Mainstay Capital Management LLC ADV Takes $1.80 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Mainstay Capital Management LLC ADV bought a new stake in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,383 shares of the company’s stock, valued at approximately $1,798,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legacy Capital Group California Inc. bought a new position in Smurfit Westrock during the third quarter valued at about $235,000. Assenagon Asset Management S.A. bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $870,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $252,000. Bank Pictet & Cie Europe AG bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth approximately $1,480,000. Finally, Waldron Private Wealth LLC acquired a new stake in Smurfit Westrock during the third quarter valued at approximately $35,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Price Performance

Shares of NYSE:SW opened at $45.86 on Friday. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $50.60. The stock has a fifty day simple moving average of $46.00. The company has a market capitalization of $23.82 billion, a PE ratio of 50.40 and a beta of 1.05.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $7.91 billion. Smurfit Westrock had a net margin of 1.36% and a return on equity of 7.13%. On average, equities analysts anticipate that Smurfit Westrock Ltd will post 2.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley assumed coverage on Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 target price on the stock. Wells Fargo & Company reduced their price objective 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 Smurfit Westrock in a research report on Wednesday. They issued a “buy” rating and a $57.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.00 price objective on shares of Smurfit Westrock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and four 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 $56.57.

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.