Quest Partners LLC Makes New $760,000 Investment in Sylvamo Co. (NYSE:SLVM)

Quest Partners LLC bought a new stake in Sylvamo Co. (NYSE:SLVM - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,847 shares of the company's stock, valued at approximately $760,000.

Other hedge funds have also made changes to their positions in the company. CWM LLC lifted its stake in shares of Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company's stock valued at $28,000 after buying an additional 157 shares during the period. Independence Bank of Kentucky lifted its stake in Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company's stock worth $28,000 after purchasing an additional 404 shares during the period. Fortitude Family Office LLC lifted its stake in Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company's stock worth $38,000 after purchasing an additional 239 shares during the period. GAMMA Investing LLC lifted its stake in Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company's stock worth $40,000 after purchasing an additional 171 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company's stock worth $35,000 after purchasing an additional 303 shares during the period. Institutional investors own 91.16% of the company's stock.

Sylvamo Price Performance

Shares of NYSE SLVM traded up $2.31 during mid-day trading on Friday, hitting $91.01. 243,513 shares of the stock were exchanged, compared to its average volume of 313,602. The company has a market cap of $3.73 billion, a P/E ratio of 13.79 and a beta of 1.08. The stock's fifty day simple moving average is $84.98 and its two-hundred day simple moving average is $76.14. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. Sylvamo Co. has a twelve month low of $44.94 and a twelve month high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results 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 during 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%. Sylvamo's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.70 earnings per share. As a group, analysts forecast that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Thursday, October 3rd. Sylvamo's dividend payout ratio is currently 27.99%.

Wall Street Analyst Weigh In

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

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.