FMR LLC raised its stake in Sylvamo Co. (NYSE:SLVM - Free Report) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 724,391 shares of the company's stock after acquiring an additional 30,345 shares during the quarter. FMR LLC owned approximately 1.77% of Sylvamo worth $62,189,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in SLVM. Simplicity Wealth LLC grew its position in shares of Sylvamo by 105.7% in the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company's stock valued at $974,000 after purchasing an additional 7,291 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Sylvamo by 80.4% in the second quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company's stock valued at $1,590,000 after purchasing an additional 10,332 shares during the period. Summit Global Investments purchased a new stake in shares of Sylvamo in the second quarter valued at $1,170,000. Citigroup Inc. grew its position in shares of Sylvamo by 67.0% in the third quarter. Citigroup Inc. now owns 46,518 shares of the company's stock valued at $3,994,000 after purchasing an additional 18,657 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Sylvamo by 6,693.0% in the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock valued at $5,931,000 after purchasing an additional 68,068 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.
Sylvamo Trading Up 1.7 %
SLVM stock traded up $1.50 during trading on Friday, reaching $90.63. 195,625 shares of the stock traded hands, compared to its average volume of 271,193. The business's 50 day moving average price is $87.02 and its 200-day moving average price is $77.82. Sylvamo Co. has a 52-week low of $44.94 and a 52-week high of $98.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The firm has a market capitalization of $3.72 billion, a PE ratio of 14.08 and a beta of 1.08.
Sylvamo (NYSE:SLVM - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. During the same quarter in the prior year, the business earned $1.70 earnings per share. The company's revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Sylvamo Co. will post 7.07 earnings per share for the current year.
Sylvamo Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo's dividend payout ratio (DPR) is 27.99%.
Analyst Upgrades and Downgrades
SLVM has been the subject of a number of recent analyst reports. Bank of America lifted their price objective on Sylvamo from $82.00 to $88.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Sidoti initiated coverage on Sylvamo in a research report on Tuesday, October 15th. They set a "buy" rating and a $100.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a research report on Monday, August 12th.
View Our Latest Stock Report on Sylvamo
Sylvamo Profile
(
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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