Intech Investment Management LLC acquired a new position in shares of Sylvamo Co. (NYSE:SLVM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,018 shares of the company's stock, valued at approximately $1,633,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC raised its holdings in Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company's stock worth $28,000 after acquiring an additional 157 shares in the last quarter. Independence Bank of Kentucky raised its holdings in Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company's stock worth $28,000 after acquiring an additional 404 shares in the last quarter. Fifth Third Bancorp raised its holdings in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company's stock worth $35,000 after acquiring an additional 303 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company's stock worth $38,000 after acquiring an additional 239 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company's stock worth $40,000 after acquiring an additional 171 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on SLVM shares. Royal Bank of Canada upped their price objective on Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a research note on Monday, August 12th. Sidoti started coverage on Sylvamo in a research note on Tuesday, October 15th. They issued a "buy" rating and a $100.00 price objective on the stock. Finally, Bank of America upped their price objective on Sylvamo from $82.00 to $88.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd.
Check Out Our Latest Analysis on SLVM
Sylvamo Stock Performance
Shares of NYSE SLVM traded down $0.87 during trading hours on Tuesday, reaching $94.45. 359,259 shares of the stock were exchanged, compared to its average volume of 313,901. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 14.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The stock's fifty day simple moving average is $85.91 and its 200 day simple moving average is $76.88.
Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.70 earnings per share. Sell-side analysts predict that Sylvamo Co. will post 7.07 EPS for the current year.
Sylvamo Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo's dividend payout ratio is currently 27.99%.
About Sylvamo
(
Free Report)
Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.
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