Pictet Asset Management Holding SA Sells 17,398 Shares of Sylvamo Co. (NYSE:SLVM)

Pictet Asset Management Holding SA lowered its position in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 389,930 shares of the company's stock after selling 17,398 shares during the quarter. Pictet Asset Management Holding SA owned about 0.95% of Sylvamo worth $30,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp increased its position in shares of Sylvamo by 0.9% during the third 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 in the last quarter. American Century Companies Inc. raised its position in Sylvamo by 15.2% in the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock valued at $80,289,000 after buying an additional 134,066 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 27,859 shares during the last quarter. FMR LLC raised its holdings in shares of Sylvamo by 4.4% in the third quarter. FMR LLC now owns 724,391 shares of the company's stock valued at $62,189,000 after purchasing an additional 30,345 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in 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 in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Sylvamo Price Performance

Shares of NYSE SLVM traded down $5.59 during trading hours on Thursday, reaching $62.77. 109,719 shares of the stock traded hands, compared to its average volume of 324,183. The company has a market capitalization of $2.55 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. Sylvamo Co. has a 52-week low of $56.35 and a 52-week high of $98.02. The company's 50-day simple moving average is $71.11 and its two-hundred day simple moving average is $79.86.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 2.87%. Sylvamo's payout ratio is currently 24.97%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SLVM shares. Royal Bank of Canada decreased their price target on shares of Sylvamo from $83.00 to $80.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. Bank of America reaffirmed an "underperform" rating and set a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th.

Insider Transactions at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was 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 owns 131,894 shares of the company's stock, valued at approximately $8,591,575.16. This represents a 13.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company's stock.

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.