Oppenheimer Asset Management Inc. Invests $8.28 Million in Smurfit Westrock Ltd (NYSE:SW)

Oppenheimer Asset Management Inc. bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 167,559 shares of the company’s stock, valued at approximately $8,281,000.

Other large investors have also added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of Smurfit Westrock during the third quarter worth approximately $25,000. CVA Family Office LLC bought a new stake in Smurfit Westrock in the 3rd quarter valued at $26,000. ORG Wealth Partners LLC bought a new stake in Smurfit Westrock in the 3rd quarter valued at $32,000. Waldron Private Wealth LLC acquired a new position in Smurfit Westrock in the 3rd quarter valued at $35,000. Finally, Cromwell Holdings LLC bought a new position in Smurfit Westrock during the 3rd quarter worth $42,000. Institutional investors own 83.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SW. Royal Bank of Canada upgraded shares of Smurfit Westrock from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $52.00 to $58.00 in a research note on Thursday, October 31st. Citigroup initiated coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price on the stock. Morgan Stanley initiated coverage on shares of Smurfit Westrock in a research report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lowered their price objective on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Smurfit Westrock has an average rating of “Moderate Buy” and an average price target of $57.43.

Smurfit Westrock Price Performance

Shares of NYSE:SW opened at $51.00 on Thursday. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $54.32. The company has a market capitalization of $26.53 billion, a PE ratio of 283.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The company has a 50 day moving average price of $47.28.

Smurfit Westrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.3025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.37%. Smurfit Westrock’s dividend payout ratio (DPR) is currently 672.26%.

About Smurfit Westrock

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.