Janney Montgomery Scott LLC Makes New Investment in Smurfit Westrock Ltd (NYSE:SW)

Janney Montgomery Scott LLC purchased a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 32,478 shares of the company's stock, valued at approximately $1,605,000.

Several other hedge funds also recently bought and sold shares of SW. Vontobel Holding Ltd. acquired a new stake in shares of Smurfit Westrock in the third quarter worth approximately $62,832,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Smurfit Westrock in the third quarter worth approximately $39,627,000. New York State Common Retirement Fund purchased a new position in Smurfit Westrock in the third quarter valued at approximately $22,299,000. Boston Common Asset Management LLC purchased a new position in Smurfit Westrock in the third quarter valued at approximately $16,262,000. Finally, New York State Teachers Retirement System purchased a new position in Smurfit Westrock in the third quarter valued at approximately $14,835,000. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Price Performance

Shares of NYSE SW traded down $0.62 during midday trading on Thursday, reaching $50.37. 5,760,216 shares of the company traded hands, compared to its average volume of 5,255,667. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $54.32. The stock's 50-day moving average is $47.39. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $26.20 billion, a P/E ratio of 279.74 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio is currently 672.26%.

Analyst Upgrades and Downgrades

SW has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company dropped their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, October 7th. Jefferies Financial Group reiterated a "hold" rating and set a $52.00 price objective on shares of Smurfit Westrock in a research note on Monday, July 29th. Royal Bank of Canada raised shares of Smurfit Westrock from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $52.00 to $58.00 in a research report on Thursday, October 31st. Finally, Citigroup initiated coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a "buy" rating and a $57.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Smurfit Westrock currently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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.