Sylvamo Co. (NYSE:SLVM) Shares Bought by State Street Corp

State Street Corp increased its holdings in Sylvamo Co. (NYSE:SLVM - Free Report) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,407,303 shares of the company's stock after purchasing an additional 12,181 shares during the quarter. State Street Corp owned approximately 3.43% of Sylvamo worth $120,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. HighTower Advisors LLC increased its stake in shares of Sylvamo by 473.5% in the 3rd quarter. HighTower Advisors LLC now owns 18,467 shares of the company's stock worth $1,587,000 after acquiring an additional 15,247 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of Sylvamo in the 3rd quarter worth approximately $284,000. Martingale Asset Management L P raised its stake in Sylvamo by 47.4% during the third quarter. Martingale Asset Management L P now owns 51,137 shares of the company's stock valued at $4,390,000 after buying an additional 16,450 shares during the last quarter. PEAK6 Investments LLC purchased a new position in Sylvamo during the third quarter valued at $240,000. Finally, FORA Capital LLC boosted its holdings in Sylvamo by 13.6% in the third quarter. FORA Capital LLC now owns 11,523 shares of the company's stock worth $989,000 after acquiring an additional 1,377 shares in the last quarter. 91.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SLVM has been the subject of several analyst reports. Sidoti started coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a "buy" rating and a $100.00 price target for the company. Bank of America reaffirmed an "underperform" rating and set a $96.00 price objective on shares of Sylvamo in a research report on Wednesday.

Sylvamo Price Performance

Shares of NYSE:SLVM traded down $1.44 during mid-day trading on Friday, reaching $87.77. The stock had a trading volume of 196,881 shares, compared to its average volume of 234,506. The business's 50 day moving average price is $87.78 and its 200 day moving average price is $78.64. Sylvamo Co. has a 1 year low of $44.94 and a 1 year high of $98.02. The company has a market cap of $3.60 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 2.92 and a beta of 1.08. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. The company had revenue of $965.00 million for the quarter, compared to analysts' expectations of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. Sylvamo's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.70 earnings per share. Research analysts expect that Sylvamo Co. will post 7.15 EPS for the current fiscal year.

Sylvamo Company 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.