Icon Wealth Advisors LLC Takes $766,000 Position in Smurfit Westrock Ltd (NYSE:SW)

Icon Wealth Advisors LLC bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,506 shares of the company’s stock, valued at approximately $766,000.

Other hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth about $8,519,000. Czech National Bank bought a new stake in Smurfit Westrock during the third quarter worth about $4,967,000. SG Americas Securities LLC acquired a new position in Smurfit Westrock during the third quarter valued at approximately $843,000. Park Avenue Securities LLC bought a new position in Smurfit Westrock in the third quarter valued at approximately $561,000. Finally, GAMMA Investing LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $249,000. Institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SW. Morgan Stanley increased their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Wells Fargo & Company cut their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Citigroup initiated coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. boosted their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.57.

Smurfit Westrock Stock Performance

Shares of SW opened at $55.01 on Friday. The firm has a market cap of $28.61 billion, a price-to-earnings ratio of 305.63 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The firm has a 50-day moving average of $49.48.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.20%. 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.