Massachusetts Financial Services Co. MA Raises Stock Position in Sylvamo Co. (NYSE:SLVM)

Massachusetts Financial Services Co. MA lifted its stake in Sylvamo Co. (NYSE:SLVM - Free Report) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,352 shares of the company's stock after buying an additional 4,868 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.10% of Sylvamo worth $3,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLVM. 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 valued at $49,000 after buying an additional 403 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Sylvamo by 43.6% in the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company's stock valued at $52,000 after acquiring an additional 201 shares during the period. Fifth Third Bancorp raised its position in Sylvamo by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company's stock valued at $58,000 after purchasing an additional 214 shares during the last quarter. LRI Investments LLC boosted its stake in Sylvamo by 4,825.0% during the 3rd quarter. LRI Investments LLC now owns 788 shares of the company's stock worth $66,000 after purchasing an additional 772 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Sylvamo during the 3rd quarter worth $82,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Stock Performance

Shares of NYSE:SLVM traded up $1.42 during trading on Friday, reaching $60.33. The company had a trading volume of 307,585 shares, compared to its average volume of 326,397. 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 stock's fifty day moving average price is $67.45 and its 200 day moving average price is $78.45. Sylvamo Co. has a fifty-two week low of $54.94 and a fifty-two week high of $98.02. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17.

Remove Ads

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings data 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, equities research analysts predict that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be given a $0.45 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.98%. Sylvamo's payout ratio is currently 24.97%.

Insider Buying and Selling at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.