Charles Schwab Investment Management Inc. Trims Holdings in Sylvamo Co. (NYSE:SLVM)

Charles Schwab Investment Management Inc. lessened its stake in Sylvamo Co. (NYSE:SLVM - Free Report) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 641,396 shares of the company's stock after selling 43,024 shares during the period. Charles Schwab Investment Management Inc. owned about 1.56% of Sylvamo worth $55,064,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Sylvamo during the first quarter worth about $45,000. Price T Rowe Associates Inc. MD boosted its position in Sylvamo by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,815 shares of the company's stock valued at $1,286,000 after buying an additional 1,338 shares during the period. Comerica Bank grew its stake in shares of Sylvamo by 19.5% in the first quarter. Comerica Bank now owns 19,719 shares of the company's stock worth $1,217,000 after acquiring an additional 3,222 shares in the last quarter. CWM LLC increased its position in shares of Sylvamo by 62.5% during 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 period. Finally, Simplicity Wealth LLC raised its stake in shares of Sylvamo by 105.7% in the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company's stock valued at $974,000 after acquiring an additional 7,291 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SLVM. Royal Bank of Canada upped their price target on Sylvamo from $63.00 to $71.00 and gave the stock a "sector perform" rating in a report on Monday, August 12th. Sidoti initiated coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They set a "buy" rating and a $100.00 target price on the stock. Finally, Bank of America lifted their price target on shares of Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd.

Sylvamo Stock Up 1.1 %

Shares of NYSE:SLVM traded up $1.03 on Friday, hitting $92.29. 120,587 shares of the company's stock were exchanged, compared to its average volume of 273,904. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a market capitalization of $3.78 billion, a PE ratio of 14.35 and a beta of 1.08. The firm's 50-day moving average is $86.44 and its 200 day moving average is $77.30.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.18 by $0.26. The company had revenue of $965.00 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.70 earnings per share. Sell-side analysts predict that Sylvamo Co. will post 7.07 EPS for the current year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given a $0.45 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.95%. Sylvamo's dividend payout ratio (DPR) is presently 27.99%.

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.