Vanguard Group Inc. lowered its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,845,201 shares of the company's stock after selling 63,265 shares during the quarter. Vanguard Group Inc. owned about 6.94% of Sylvamo worth $224,828,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. American Century Companies Inc. increased its position in Sylvamo by 15.2% during the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock worth $80,289,000 after purchasing an additional 134,066 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Sylvamo by 16.6% during the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company's stock worth $40,139,000 after buying an additional 72,226 shares during the last quarter. Barclays PLC raised its position in shares of Sylvamo by 324.6% in the 3rd quarter. Barclays PLC now owns 62,435 shares of the company's stock worth $5,360,000 after buying an additional 47,730 shares during the period. Raymond James Financial Inc. acquired a new position in Sylvamo in the fourth quarter valued at $3,632,000. Finally, FMR LLC grew its position in Sylvamo by 4.4% during the third quarter. FMR LLC now owns 724,391 shares of the company's stock valued at $62,189,000 after acquiring an additional 30,345 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Sylvamo
In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares of the company's stock, valued at $8,591,575.16. This represents a 13.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.
Sylvamo Stock Down 4.8 %
Shares of NYSE:SLVM traded down $2.98 during mid-day trading on Thursday, hitting $58.93. 301,916 shares of the company traded hands, compared to its average volume of 326,104. The firm has a market cap of $2.40 billion, a P/E ratio of 8.17, a PEG ratio of 2.23 and a beta of 1.17. Sylvamo Co. has a 52-week low of $54.94 and a 52-week high of $98.02. The firm's 50 day simple moving average is $67.78 and its 200 day simple moving average is $78.62. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56.
Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.96% and a return on equity of 34.72%. On average, equities analysts anticipate that Sylvamo Co. will post 7.45 EPS for the current year.
Sylvamo Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a yield of 3.05%. Sylvamo's dividend payout ratio is currently 24.97%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented 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 reissued an "underperform" rating and issued a $96.00 target price on shares of Sylvamo in a research note on Wednesday, December 11th.
View Our Latest Stock Analysis on SLVM
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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