BNP Paribas Financial Markets Invests $33.54 Million in Smurfit Westrock Ltd (NYSE:SW)

BNP Paribas Financial Markets purchased a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 678,668 shares of the company’s stock, valued at approximately $33,540,000. BNP Paribas Financial Markets owned 0.13% of Smurfit Westrock as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SW. AMF Tjanstepension AB acquired a new position in shares of Smurfit Westrock during the third quarter worth about $8,519,000. Czech National Bank acquired a new position in shares of 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 worth about $843,000. Park Avenue Securities LLC acquired a new position in Smurfit Westrock during the third quarter worth about $561,000. Finally, GAMMA Investing LLC acquired a new position in Smurfit Westrock during the third quarter worth about $249,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $55.01 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $28.61 billion, a P/E ratio of 305.63 and a beta of 1.04. The firm has a 50-day simple moving average of $49.48. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $56.99.

Smurfit Westrock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s payout ratio is 672.26%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SW. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup began 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. Finally, Wells Fargo & Company lowered their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.57.

Smurfit Westrock Profile

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.