Martingale Asset Management L P Purchases 16,450 Shares of Sylvamo Co. (NYSE:SLVM)

Martingale Asset Management L P grew its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 47.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 51,137 shares of the company's stock after purchasing an additional 16,450 shares during the period. Martingale Asset Management L P owned about 0.12% of Sylvamo worth $4,390,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of SLVM. Vanguard Group Inc. lifted its position in shares of Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company's stock valued at $174,771,000 after purchasing an additional 138,655 shares in the last quarter. Pacer Advisors Inc. increased its stake in Sylvamo by 83,084.0% in the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company's stock valued at $197,815,000 after buying an additional 2,301,427 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Sylvamo by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company's stock valued at $90,276,000 after buying an additional 62,157 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Sylvamo during the 2nd quarter worth approximately $62,101,000. Finally, FMR LLC boosted its stake in shares of Sylvamo by 4.4% in the 3rd quarter. FMR LLC now owns 724,391 shares of the company's stock worth $62,189,000 after buying an additional 30,345 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on SLVM shares. Royal Bank of Canada lifted their price target on Sylvamo from $63.00 to $71.00 and gave the stock a "sector perform" rating in a report on Monday, August 12th. Sidoti assumed coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a "buy" rating and a $100.00 price target for the company. Finally, Bank of America raised their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd.

Sylvamo Stock Performance

NYSE:SLVM traded up $1.03 during trading hours on Friday, reaching $92.29. The stock had a trading volume of 120,587 shares, compared to its average volume of 312,926. The stock has a market cap of $3.78 billion, a P/E ratio of 14.35 and a beta of 1.08. Sylvamo Co. has a 12-month low of $44.94 and a 12-month high of $98.02. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. The stock has a 50 day simple moving average of $86.44 and a 200 day simple moving average of $77.25.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The business had revenue of $965.00 million for the quarter, compared to analysts' expectations of $960.47 million. During the same quarter in the previous year, the firm posted $1.70 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.95%. Sylvamo's dividend payout ratio is currently 27.99%.

Sylvamo Company Profile

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.