Royal London Asset Management Ltd. Sells 177,497 Shares of Sylvamo Co. (NYSE:SLVM)

Royal London Asset Management Ltd. decreased its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,469,790 shares of the company's stock after selling 177,497 shares during the quarter. Royal London Asset Management Ltd. owned about 3.58% of Sylvamo worth $116,143,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Sylvamo by 83,084.0% during the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company's stock worth $197,815,000 after purchasing an additional 2,301,427 shares during the period. State Street Corp grew its holdings in Sylvamo by 0.9% during the 3rd quarter. State Street Corp now owns 1,407,303 shares of the company's stock worth $120,817,000 after acquiring an additional 12,181 shares during the last quarter. Geode Capital Management LLC raised its position in Sylvamo by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 915,997 shares of the company's stock worth $78,652,000 after purchasing an additional 27,859 shares during the last quarter. FMR LLC lifted its stake in shares of Sylvamo by 4.4% in the third quarter. FMR LLC now owns 724,391 shares of the company's stock worth $62,189,000 after acquiring an additional 30,345 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in shares of Sylvamo by 16.6% in the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company's stock worth $40,139,000 after purchasing an additional 72,226 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SLVM. Royal Bank of Canada dropped their price target 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. Bank of America reiterated an "underperform" rating and issued a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th.

Sylvamo Price Performance

SLVM traded up $0.85 on Monday, reaching $66.21. The company had a trading volume of 553,905 shares, compared to its average volume of 307,008. The business has a 50 day simple moving average of $73.03 and a 200 day simple moving average of $80.33. Sylvamo Co. has a 52-week low of $56.35 and a 52-week high of $98.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 2.23 and a beta of 1.15.

Sylvamo (NYSE:SLVM - Get Free Report) last announced 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 net margin of 7.96% and a return on equity of 34.72%. As a group, sell-side analysts anticipate that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.72%. Sylvamo's payout ratio is 24.97%.

Insider Activity at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $65.53, for a total transaction of $1,392,512.50. Following the completion of the transaction, the chief executive officer now owns 153,144 shares in the company, valued at $10,035,526.32. This trade represents a 12.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is owned by corporate insiders.

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.