New York State Common Retirement Fund Lowers Stock Holdings in Sylvamo Co. (NYSE:SLVM)

New York State Common Retirement Fund trimmed its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 37.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,102 shares of the company's stock after selling 13,600 shares during the period. New York State Common Retirement Fund owned 0.06% of Sylvamo worth $1,826,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SLVM. GAMMA Investing LLC boosted its stake in Sylvamo by 43.6% during the 4th 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 lifted its stake in shares of Sylvamo by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company's stock worth $58,000 after buying an additional 214 shares in the last quarter. LRI Investments LLC boosted its position in Sylvamo by 4,825.0% during the third quarter. LRI Investments LLC now owns 788 shares of the company's stock worth $66,000 after acquiring an additional 772 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Sylvamo during the 3rd quarter valued at about $82,000. Finally, Fortitude Family Office LLC raised its holdings in Sylvamo by 277.9% in the 4th quarter. Fortitude Family Office LLC now owns 1,678 shares of the company's stock valued at $133,000 after acquiring an additional 1,234 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SLVM shares. Royal Bank of Canada cut their price target on Sylvamo from $83.00 to $80.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Bank of America reaffirmed an "underperform" rating and issued a $96.00 target price on shares of Sylvamo in a research note on Wednesday, December 11th.

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Sylvamo Trading Down 2.1 %

Shares of Sylvamo stock traded down $1.48 during mid-day trading on Thursday, hitting $67.71. The stock had a trading volume of 85,912 shares, compared to its average volume of 304,853. Sylvamo Co. has a 12-month low of $56.20 and a 12-month high of $98.02. The firm has a market cap of $2.75 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.12. The firm has a 50-day moving average of $76.06 and a two-hundred day moving average of $81.28. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Sell-side analysts forecast that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.66%. The ex-dividend date 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.