Massachusetts Financial Services Co. MA acquired a new position in Sylvamo Co. (NYSE:SLVM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,484 shares of the company's stock, valued at approximately $3,046,000. Massachusetts Financial Services Co. MA owned about 0.09% of Sylvamo as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in SLVM. Vanguard Group Inc. lifted its stake in Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company's stock worth $174,771,000 after purchasing an additional 138,655 shares in the last quarter. Simplicity Wealth LLC boosted its holdings in Sylvamo by 105.7% during the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company's stock valued at $974,000 after acquiring an additional 7,291 shares during the period. Los Angeles Capital Management LLC grew its position in Sylvamo by 80.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company's stock valued at $1,590,000 after acquiring an additional 10,332 shares in the last quarter. Summit Global Investments purchased a new stake in Sylvamo during the second quarter worth about $1,170,000. Finally, International Assets Investment Management LLC lifted its position in shares of Sylvamo by 6,693.0% during the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock worth $5,931,000 after purchasing an additional 68,068 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.
Sylvamo Stock Up 0.5 %
NYSE:SLVM traded up $0.47 during mid-day trading on Wednesday, hitting $94.92. The stock had a trading volume of 7,327 shares, compared to its average volume of 312,540. Sylvamo Co. has a twelve month low of $44.94 and a twelve month high of $98.02. The stock has a 50-day simple moving average of $85.91 and a two-hundred day simple moving average of $76.88. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $3.89 billion, a PE ratio of 14.76 and a beta of 1.08.
Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company's revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $1.70 EPS. On average, equities research analysts anticipate that Sylvamo Co. will post 7.07 EPS for the current year.
Sylvamo Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.90%. Sylvamo's dividend payout ratio is currently 27.99%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on SLVM shares. Royal Bank of Canada lifted their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a report on Monday, August 12th. Bank of America upped their price objective on Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Finally, Sidoti started coverage on Sylvamo in a research note on Tuesday, October 15th. They issued a "buy" rating and a $100.00 price objective on the stock.
Read Our Latest Stock Analysis on Sylvamo
About Sylvamo
(
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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