Sylvamo Co. (NYSE:SLVM) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,647,287 shares of the company's stock after selling 36,352 shares during the quarter. Royal London Asset Management Ltd. owned about 4.02% of Sylvamo worth $141,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Simplicity Wealth LLC increased its position in Sylvamo by 105.7% during the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company's stock worth $974,000 after buying an additional 7,291 shares during the period. Los Angeles Capital Management LLC increased its position in Sylvamo by 80.4% during the second quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company's stock worth $1,590,000 after buying an additional 10,332 shares during the period. Summit Global Investments acquired a new position in shares of Sylvamo in the second quarter valued at approximately $1,170,000. International Assets Investment Management LLC increased its holdings in shares of Sylvamo by 6,693.0% in the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock valued at $5,931,000 after purchasing an additional 68,068 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Sylvamo by 724.1% in the third quarter. Janney Montgomery Scott LLC now owns 37,505 shares of the company's stock valued at $3,220,000 after purchasing an additional 32,954 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Trading Down 0.9 %

NYSE:SLVM traded down $0.83 on Thursday, hitting $88.75. 52,369 shares of the stock were exchanged, compared to its average volume of 310,742. Sylvamo Co. has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. The stock has a fifty day moving average of $86.89 and a 200-day moving average of $77.75. 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 stock has a market cap of $3.64 billion, a PE ratio of 13.93 and a beta of 1.08.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.26. The firm had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. Sylvamo's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 earnings per share. As a group, equities analysts expect that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm 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 yield of 2.03%. 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 research firms have recently issued reports on SLVM. Royal Bank of Canada boosted their target price on 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 lifted their price target on Sylvamo from $82.00 to $88.00 and gave the company a "neutral" rating in a research note 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 target on the stock.

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.