Jane Street Group LLC Cuts Holdings in Sylvamo Co. (NYSE:SLVM)

Jane Street Group LLC lessened its position in Sylvamo Co. (NYSE:SLVM - Free Report) by 94.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,168 shares of the company's stock after selling 166,800 shares during the period. Jane Street Group LLC's holdings in Sylvamo were worth $787,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in shares of Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company's stock valued at $38,000 after acquiring an additional 239 shares in the last quarter. GAMMA Investing LLC raised its holdings in Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company's stock worth $40,000 after purchasing an additional 171 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Sylvamo in the 2nd quarter worth about $78,000. EverSource Wealth Advisors LLC lifted its position in shares of Sylvamo by 795.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,262 shares of the company's stock worth $93,000 after purchasing an additional 1,121 shares during the period. Finally, Capital Advisors Inc. OK bought a new stake in shares of Sylvamo during the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 91.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SLVM shares. Sidoti began coverage on shares of Sylvamo in a report on Tuesday, October 15th. They issued a "buy" rating and a $100.00 price objective for the company. Bank of America restated an "underperform" rating and issued a $96.00 target price on shares of Sylvamo in a research note on Wednesday, December 11th.

Sylvamo Stock Up 0.1 %

NYSE:SLVM traded up $0.10 during mid-day trading on Friday, hitting $79.43. 161,288 shares of the company's stock were exchanged, compared to its average volume of 248,394. The company has a market cap of $3.26 billion, a PE ratio of 12.35, a P/E/G ratio of 2.92 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. Sylvamo Co. has a one year low of $44.94 and a one year high of $98.02. The business has a fifty day moving average price of $86.88 and a 200 day moving average price of $79.63.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The firm had revenue of $965.00 million for the quarter, compared to analysts' expectations of $960.47 million. During the same period in the previous year, the firm posted $1.70 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that Sylvamo Co. will post 7.15 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Monday, January 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, January 6th. Sylvamo's dividend payout ratio 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.