Segall Bryant & Hamill LLC Reduces Position in Sylvamo Co. (NYSE:SLVM)

Segall Bryant & Hamill LLC lessened its stake in Sylvamo Co. (NYSE:SLVM - Free Report) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,188 shares of the company's stock after selling 8,743 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.19% of Sylvamo worth $6,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLVM. CWM LLC grew its holdings in Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company's stock valued at $28,000 after purchasing an additional 157 shares during the period. Independence Bank of Kentucky increased its holdings in shares of Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company's stock valued at $28,000 after purchasing an additional 404 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company's stock valued at $35,000 after purchasing an additional 303 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company's stock valued at $38,000 after acquiring an additional 239 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company's stock valued at $40,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Price Performance

Shares of SLVM traded up $2.31 during midday trading on Friday, hitting $91.01. 243,513 shares of the company traded hands, compared to its average volume of 313,602. The stock has a 50-day moving average of $85.26 and a 200-day moving average of $76.33. Sylvamo Co. has a one year low of $44.94 and a one year high of $98.02. The firm has a market cap of $3.73 billion, a P/E ratio of 14.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 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 firm earned $1.70 earnings per share. As a group, sell-side analysts predict that Sylvamo Co. will post 7.07 EPS 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo's payout ratio is 27.99%.

Analysts Set New Price Targets

Several research firms recently weighed in on SLVM. Bank of America upped their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Royal Bank of Canada increased their target price on shares of Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a research report on Monday, August 12th. Finally, Sidoti assumed coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a "buy" rating and a $100.00 price objective for the company.

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.