Alliancebernstein L.P. Sells 37,888 Shares of Sylvamo Co. (NYSE:SLVM)

Alliancebernstein L.P. cut its holdings in Sylvamo Co. (NYSE:SLVM - Free Report) by 49.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,083 shares of the company's stock after selling 37,888 shares during the period. Alliancebernstein L.P. owned 0.10% of Sylvamo worth $3,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. raised its holdings in Sylvamo by 15.2% in the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock worth $80,289,000 after purchasing an additional 134,066 shares during the period. Norges Bank purchased a new stake in shares of Sylvamo in the fourth quarter worth about $6,505,000. Allianz Asset Management GmbH raised its holdings in shares of Sylvamo by 16.6% during the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company's stock worth $40,139,000 after acquiring an additional 72,226 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Sylvamo by 62.0% during the 4th quarter. JPMorgan Chase & Co. now owns 141,524 shares of the company's stock valued at $11,183,000 after acquiring an additional 54,172 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Sylvamo by 324.6% in the third quarter. Barclays PLC now owns 62,435 shares of the company's stock valued at $5,360,000 after purchasing an additional 47,730 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

Insider Activity

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $65.53, for a total value of $1,392,512.50. Following the completion of the sale, the chief executive officer now directly owns 153,144 shares in the company, valued at approximately $10,035,526.32. This represents a 12.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.74% of the company's stock.

Sylvamo Trading Up 2.0 %

Shares of NYSE:SLVM traded up $1.19 during trading on Friday, hitting $60.67. The company had a trading volume of 323,125 shares, compared to its average volume of 324,733. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. The company has a fifty day simple moving average of $65.74 and a two-hundred day simple moving average of $77.61. Sylvamo Co. has a one year low of $54.94 and a one year high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. As a group, equities analysts forecast that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo's payout ratio is currently 24.97%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered their price objective on shares of Sylvamo from $83.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th.

About Sylvamo

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.