Melqart Asset Management UK Ltd Buys New Position in Smurfit Westrock Ltd (NYSE:SW)

Melqart Asset Management UK Ltd purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 721,736 shares of the company’s stock, valued at approximately $35,668,000. Smurfit Westrock comprises 3.2% of Melqart Asset Management UK Ltd’s holdings, making the stock its 9th biggest holding. Melqart Asset Management UK Ltd owned about 0.14% of Smurfit Westrock at the end of the most recent reporting period.

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

Smurfit Westrock Stock Up 0.2 %

Smurfit Westrock stock opened at $55.21 on Wednesday. The business’s fifty day simple moving average is $49.80. The stock has a market capitalization of $28.72 billion, a price-to-earnings ratio of 306.74 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. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99.

Smurfit Westrock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Citigroup started coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target for the company. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a report on Friday, November 15th. Finally, Wells Fargo & Company lowered their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.57.

Smurfit Westrock Company 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.