Polar Asset Management Partners Inc. Sells 49,000 Shares of Sylvamo Co. (NYSE:SLVM)

Polar Asset Management Partners Inc. trimmed its holdings in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 58.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,700 shares of the company's stock after selling 49,000 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.08% of Sylvamo worth $2,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SLVM. Pacer Advisors Inc. boosted its stake in Sylvamo by 83,084.0% during the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company's stock valued at $197,815,000 after purchasing an additional 2,301,427 shares in the last quarter. SG Americas Securities LLC acquired a new position in Sylvamo during the second quarter worth about $62,101,000. American Century Companies Inc. grew its position in Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company's stock worth $45,479,000 after buying an additional 230,291 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Sylvamo during the 2nd quarter valued at $9,997,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Sylvamo by 6,693.0% during the 3rd quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock worth $5,931,000 after acquiring an additional 68,068 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Bank of America lifted their price target on Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. Sidoti initiated coverage on Sylvamo in a report on Tuesday, October 15th. They set a "buy" rating and a $100.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a research note on Monday, August 12th.

Sylvamo Stock Up 1.6 %

Shares of Sylvamo stock traded up $1.40 during midday trading on Friday, reaching $90.53. 195,625 shares of the company's stock traded hands, compared to its average volume of 310,779. 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 52 week low of $44.94 and a 52 week high of $98.02. The company's 50 day simple moving average is $87.02 and its 200 day simple moving average is $77.82. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 14.08 and a beta of 1.08.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping 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 return on equity of 30.60% and a net margin of 7.13%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 earnings per share. Equities analysts expect that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.99%. Sylvamo's dividend payout ratio (DPR) is presently 27.99%.

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.