Norges Bank acquired a new stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 82,327 shares of the company's stock, valued at approximately $6,505,000. Norges Bank owned about 0.20% of Sylvamo at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings 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 in the last quarter. Fifth Third Bancorp grew its holdings in Sylvamo by 40.9% during 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. Steward Partners Investment Advisory LLC lifted its stake in Sylvamo by 12.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock valued at $159,000 after acquiring an additional 218 shares in the last quarter. Wedmont Private Capital boosted its holdings in Sylvamo by 7.9% during the 4th quarter. Wedmont Private Capital now owns 3,726 shares of the company's stock worth $281,000 after acquiring an additional 273 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Sylvamo by 1.9% in the 4th quarter. LPL Financial LLC now owns 15,874 shares of the company's stock worth $1,254,000 after acquiring an additional 299 shares in the last quarter. 91.16% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Royal Bank of Canada cut their target price on Sylvamo from $83.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th.
Check Out Our Latest Stock Report on Sylvamo
Sylvamo Price Performance
NYSE SLVM traded up $0.97 during trading on Monday, reaching $61.18. The company's stock had a trading volume of 6,105 shares, compared to its average volume of 323,505. The stock has a market capitalization of $2.49 billion, a PE ratio of 8.46, a P/E/G ratio of 2.23 and a beta of 1.17. 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 firm has a fifty day moving average of $67.45 and a 200 day moving average of $78.42. Sylvamo Co. has a one year low of $54.94 and a one year high of $98.02.
Sylvamo (NYSE:SLVM - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, topping 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%. Analysts expect that Sylvamo Co. will post 7.45 EPS for the current fiscal year.
Sylvamo Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo's dividend payout ratio (DPR) is currently 24.97%.
Insiders Place Their Bets
In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.75% of the company's stock.
Sylvamo Company Profile
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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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