Creative Planning Acquires 33,289 Shares of Sylvamo Co. (NYSE:SLVM)

Creative Planning grew its holdings in Sylvamo Co. (NYSE:SLVM - Free Report) by 430.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,017 shares of the company's stock after purchasing an additional 33,289 shares during the period. Creative Planning owned approximately 0.10% of Sylvamo worth $3,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wedge Capital Management L L P NC boosted its holdings in shares of Sylvamo by 6.1% during the third quarter. Wedge Capital Management L L P NC now owns 19,352 shares of the company's stock worth $1,661,000 after purchasing an additional 1,120 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Sylvamo during the 3rd quarter valued at $1,502,000. Inspire Investing LLC purchased a new position in shares of Sylvamo during the 3rd quarter valued at $2,391,000. Ritholtz Wealth Management acquired a new position in shares of Sylvamo in the third quarter worth $575,000. Finally, Wedmont Private Capital raised its holdings in shares of Sylvamo by 11.2% during the third quarter. Wedmont Private Capital now owns 3,453 shares of the company's stock worth $285,000 after acquiring an additional 349 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Stock Down 2.1 %

Shares of NYSE:SLVM traded down $1.80 on Friday, reaching $85.18. The company had a trading volume of 198,473 shares, compared to its average volume of 317,611. The stock has a market capitalization of $3.50 billion, a P/E ratio of 18.16, a P/E/G ratio of 4.49 and a beta of 1.08. The stock has a 50-day moving average price of $80.77 and a 200 day moving average price of $72.67. Sylvamo Co. has a twelve month low of $42.03 and a twelve month high of $88.42. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.40. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The firm had revenue of $933.00 million during the quarter, compared to analyst estimates of $937.56 million. During the same period in the previous year, the company earned $1.14 EPS. The company's revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts expect that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.11%. Sylvamo's dividend payout ratio (DPR) is presently 38.38%.

Analysts Set New Price Targets

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

Sylvamo 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.