Skandinaviska Enskilda Banken AB publ Trims Stake in Sylvamo Co. (NYSE:SLVM)

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 60.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,840 shares of the company's stock after selling 35,867 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.06% of Sylvamo worth $1,873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Vestcor Inc bought a new position in shares of Sylvamo during the 4th quarter worth approximately $246,000. Swiss National Bank lifted its position in shares of Sylvamo by 0.4% during the 4th quarter. Swiss National Bank now owns 68,500 shares of the company's stock worth $5,413,000 after buying an additional 300 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Sylvamo by 5.4% during the 4th quarter. HighTower Advisors LLC now owns 19,473 shares of the company's stock worth $1,539,000 after buying an additional 1,006 shares in the last quarter. Amundi lifted its position in shares of Sylvamo by 171.6% during the 4th quarter. Amundi now owns 19,009 shares of the company's stock worth $1,470,000 after buying an additional 12,009 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Sylvamo during the 4th quarter worth approximately $547,000. Institutional investors own 91.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLVM shares. Bank of America reaffirmed an "underperform" rating and issued a $96.00 price target on shares of Sylvamo in a report on Wednesday, December 11th. Royal Bank of Canada lowered their price target on shares of Sylvamo from $83.00 to $80.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th.

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Sylvamo Stock Performance

Shares of NYSE:SLVM traded up $0.19 during mid-day trading on Wednesday, reaching $66.08. The company had a trading volume of 31,474 shares, compared to its average volume of 294,738. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.23 and a beta of 1.15. The company's 50-day moving average price is $73.68 and its 200-day moving average price is $80.56. Sylvamo Co. has a one year low of $56.34 and a one year high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share 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, equities research analysts anticipate that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

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

Insider Activity at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at approximately $8,591,575.16. The trade was a 13.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by company 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.