Summit Global Investments Has $1.18 Million Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Summit Global Investments trimmed its position in Sylvamo Co. (NYSE:SLVM - Free Report) by 23.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,910 shares of the company's stock after selling 4,464 shares during the quarter. Summit Global Investments' holdings in Sylvamo were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in shares of Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock valued at $49,000 after purchasing an additional 403 shares during the last quarter. GAMMA Investing LLC grew its stake in Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company's stock worth $52,000 after buying an additional 201 shares during the last quarter. Fifth Third Bancorp grew its stake in Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company's stock worth $58,000 after buying an additional 214 shares during the last quarter. LRI Investments LLC increased its position in Sylvamo by 4,825.0% in the third quarter. LRI Investments LLC now owns 788 shares of the company's stock worth $66,000 after buying an additional 772 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sylvamo in the third quarter valued at $82,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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Insider Buying and Selling at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $65.53, for a total value of $1,392,512.50. Following the transaction, the chief executive officer now owns 153,144 shares of the company's stock, valued at $10,035,526.32. The trade was a 12.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.75% of the stock is currently owned by corporate insiders.

Sylvamo Stock Performance

Shares of NYSE:SLVM traded down $0.30 on Thursday, hitting $66.91. The company's stock had a trading volume of 248,472 shares, compared to its average volume of 306,439. Sylvamo Co. has a 12 month low of $56.35 and a 12 month high of $98.02. The stock's 50-day moving average is $72.33 and its two-hundred day moving average is $80.12. 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 capitalization of $2.71 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.

Sylvamo (NYSE:SLVM - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. On average, equities research analysts forecast that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be given 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 2.69%. Sylvamo's dividend payout ratio (DPR) is 24.97%.

Sylvamo 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.