Allspring Global Investments Holdings LLC Has $7.32 Million Stock Position in Sylvamo Co. (NYSE:SLVM)

Allspring Global Investments Holdings LLC trimmed its stake in Sylvamo Co. (NYSE:SLVM - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,306 shares of the company's stock after selling 12,262 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.23% of Sylvamo worth $7,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Creative Planning boosted its position in Sylvamo by 430.8% during the 3rd quarter. Creative Planning now owns 41,017 shares of the company's stock valued at $3,521,000 after buying an additional 33,289 shares during the period. Blue Trust Inc. raised its position in Sylvamo by 324.9% in the 3rd quarter. Blue Trust Inc. now owns 3,476 shares of the company's stock worth $298,000 after purchasing an additional 2,658 shares during the period. Private Advisor Group LLC purchased a new position in shares of Sylvamo during the third quarter valued at approximately $234,000. International Assets Investment Management LLC boosted its holdings in shares of Sylvamo by 6,693.0% in the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock valued at $5,931,000 after purchasing an additional 68,068 shares during the period. Finally, Highland Capital Management LLC raised its stake in Sylvamo by 9.6% in the third quarter. Highland Capital Management LLC now owns 3,950 shares of the company's stock worth $339,000 after buying an additional 347 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Price Performance

SLVM stock traded down $1.33 during trading on Friday, reaching $68.33. 357,605 shares of the company were exchanged, compared to its average volume of 244,244. Sylvamo Co. has a 52-week low of $54.59 and a 52-week high of $98.02. The company has a market cap of $2.80 billion, a P/E ratio of 9.48, a PEG ratio of 2.23 and a beta of 1.12. 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 stock's 50 day moving average price is $78.16 and its 200 day moving average price is $81.43.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 EPS 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%. As a group, analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued 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 dividend yield of 2.63%. Sylvamo's dividend payout ratio (DPR) is presently 24.97%.

Analysts Set New Price Targets

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

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.