Charles Schwab Investment Management Inc. Trims Stake in Sylvamo Co. (NYSE:SLVM)

Charles Schwab Investment Management Inc. trimmed its position in Sylvamo Co. (NYSE:SLVM - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 596,677 shares of the company's stock after selling 44,719 shares during the period. Charles Schwab Investment Management Inc. owned 1.45% of Sylvamo worth $47,149,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Sylvamo by 182.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock worth $49,000 after purchasing an additional 403 shares during the last quarter. GAMMA Investing LLC lifted its stake in Sylvamo by 43.6% in the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company's stock worth $52,000 after purchasing an additional 201 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Sylvamo by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company's stock valued at $58,000 after acquiring an additional 214 shares during the period. LRI Investments LLC increased its position in shares of Sylvamo by 4,825.0% in the third quarter. LRI Investments LLC now owns 788 shares of the company's stock valued at $66,000 after acquiring an additional 772 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Sylvamo in the third quarter valued at about $82,000. 91.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SLVM. Bank of America restated an "underperform" rating and issued a $96.00 price objective on shares of Sylvamo in a research report on Wednesday, December 11th. Royal Bank of Canada decreased their price objective on shares of Sylvamo from $83.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th.

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Insider Transactions at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the transaction, the chief executive officer now owns 131,894 shares in the company, valued at approximately $8,591,575.16. This represents a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.75% of the company's stock.

Sylvamo Trading Up 0.7 %

Shares of NYSE SLVM traded up $0.43 during midday trading on Tuesday, hitting $66.04. 349,866 shares of the company traded hands, compared to its average volume of 296,673. Sylvamo Co. has a 12-month low of $56.20 and a 12-month high of $98.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. The stock has a 50-day moving average price of $73.88 and a 200 day moving average price of $80.65. The firm has a market cap of $2.68 billion, a P/E ratio of 9.16, a P/E/G ratio of 2.23 and a beta of 1.15.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. As a group, analysts expect 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. Shareholders of record on Tuesday, April 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo's dividend payout ratio (DPR) is presently 24.97%.

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.