Jupiter Asset Management Ltd. Trims Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Jupiter Asset Management Ltd. lowered its holdings in Sylvamo Co. (NYSE:SLVM - Free Report) by 47.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,753 shares of the company's stock after selling 87,100 shares during the quarter. Jupiter Asset Management Ltd. owned 0.23% of Sylvamo worth $7,566,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SLVM. HighTower Advisors LLC raised its stake in shares of Sylvamo by 5.4% in the 4th quarter. HighTower Advisors LLC now owns 19,473 shares of the company's stock valued at $1,539,000 after acquiring an additional 1,006 shares during the period. Amundi increased its holdings in Sylvamo by 171.6% in the 4th quarter. Amundi now owns 19,009 shares of the company's stock valued at $1,470,000 after purchasing an additional 12,009 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Sylvamo in the fourth quarter valued at approximately $547,000. Raymond James Financial Inc. acquired a new position in Sylvamo during the fourth quarter worth $3,632,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Sylvamo during the fourth quarter worth $1,286,000. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Stock Up 2.8 %

SLVM stock traded up $1.78 during midday trading on Friday, hitting $65.42. The company's stock had a trading volume of 321,300 shares, compared to its average volume of 312,441. Sylvamo Co. has a 52-week low of $56.20 and a 52-week high of $98.02. The firm has a 50-day simple moving average of $74.15 and a 200-day simple moving average of $80.69. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $2.65 billion, a P/E ratio of 9.07, a PEG ratio of 2.23 and a beta of 1.15.

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Sylvamo (NYSE:SLVM - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. As a group, equities analysts forecast that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 2.75%. Sylvamo's dividend payout ratio (DPR) is 24.97%.

Analysts Set New Price Targets

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

Insider Activity at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $65.53, for a total value of $1,392,512.50. Following the sale, the chief executive officer now directly owns 153,144 shares of the company's stock, valued at approximately $10,035,526.32. This represents a 12.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.75% of the stock is owned by corporate insiders.

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.