Two major firms increased their stakes in paper packaging company Smurfit Westrock, which raised its dividend.

Compagnie Lombard Odier SCmA increased its stake in Smurfit Westrock Ltd by 13.2% to 907,544 shares, while Vontobel Holding Ltd increased its holdings by 10.7% to 1,407,034 shares. Smurfit Westrock, which produces paper-based packaging, has a "Moderate Buy" rating and pays a quarterly dividend of $0.4308, up from $0.30 previously. The company's shares are valued at a consensus target price of $60.70.