Royce & Associates LP cut its stake in Sylvamo Co. (NYSE:SLVM - Free Report) by 19.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 349,293 shares of the company's stock after selling 82,252 shares during the quarter. Royce & Associates LP owned 0.85% of Sylvamo worth $29,987,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of SLVM. CWM LLC lifted its stake in Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company's stock worth $28,000 after purchasing an additional 157 shares during the last quarter. Independence Bank of Kentucky raised its stake in Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company's stock valued at $28,000 after buying an additional 404 shares during the last quarter. Fortitude Family Office LLC grew 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 buying an additional 239 shares during the last quarter. GAMMA Investing LLC lifted its stake in Sylvamo by 59.0% during the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company's stock valued at $40,000 after acquiring an additional 171 shares during the period. Finally, Fifth Third Bancorp grew its position in Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company's stock worth $35,000 after purchasing an additional 303 shares during the period. 91.16% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have commented on SLVM shares. Royal Bank of Canada increased their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a research report on Monday, August 12th. Bank of America upped their price objective 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. Finally, Sidoti initiated coverage on Sylvamo in a research report on Tuesday, October 15th. They set a "buy" rating and a $100.00 price objective on the stock.
Read Our Latest Stock Report on SLVM
Sylvamo Trading Up 0.4 %
Shares of NYSE:SLVM traded up $0.36 during trading on Friday, reaching $84.59. 341,209 shares of the stock were exchanged, compared to its average volume of 315,323. Sylvamo Co. has a 12-month low of $44.94 and a 12-month high of $98.02. The firm's 50-day moving average price is $83.95 and its 200 day moving average price is $75.50. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.05 and a current ratio of 1.72. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 4.55 and a beta of 1.08.
Sylvamo (NYSE:SLVM - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 earnings per share. On average, sell-side analysts anticipate that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.
Sylvamo Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Thursday, October 3rd. Sylvamo's dividend payout ratio (DPR) is currently 27.99%.
About Sylvamo
(
Free Report)
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.
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