Citigroup Inc. Increases Stock Position in Sylvamo Co. (NYSE:SLVM)

Citigroup Inc. lifted its holdings in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 67.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,518 shares of the company's stock after buying an additional 18,657 shares during the quarter. Citigroup Inc. owned about 0.11% of Sylvamo worth $3,994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can increased its holdings in Sylvamo by 2.8% during the second quarter. Bank of Montreal Can now owns 5,666 shares of the company's stock worth $389,000 after buying an additional 154 shares during the last quarter. CWM LLC lifted its holdings in shares of Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company's stock worth $28,000 after acquiring an additional 157 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company's stock worth $40,000 after acquiring an additional 171 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company's stock valued at $1,165,000 after buying an additional 216 shares during the period. Finally, Fortitude Family Office LLC increased 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 buying an additional 239 shares during the period. Institutional investors own 91.16% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SLVM. Sidoti began coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a "buy" rating and a $100.00 target price for the company. Bank of America raised 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. Finally, Royal Bank of Canada increased their target price on Sylvamo from $63.00 to $71.00 and gave the stock a "sector perform" rating in a report on Monday, August 12th.

Sylvamo Price Performance

Shares of Sylvamo stock traded down $2.33 during trading on Wednesday, hitting $89.58. 246,351 shares of the stock traded hands, compared to its average volume of 311,865. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 13.93 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The firm's fifty day moving average is $86.89 and its 200-day moving average is $77.75.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.26. The company had revenue of $965.00 million during 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%. The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 EPS. Research analysts expect that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.01%. Sylvamo's dividend payout ratio (DPR) is presently 27.99%.

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.