Zacks Investment Management Has $254,000 Holdings in Sylvamo Co. (NYSE:SLVM)

Zacks Investment Management lowered its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 94.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,210 shares of the company's stock after selling 57,433 shares during the quarter. Zacks Investment Management's holdings in Sylvamo were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Sylvamo by 324.6% during the 3rd quarter. Barclays PLC now owns 62,435 shares of the company's stock worth $5,360,000 after acquiring an additional 47,730 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Sylvamo during the third quarter worth $82,000. Tidal Investments LLC boosted its holdings in shares of Sylvamo by 150.9% in the 3rd quarter. Tidal Investments LLC now owns 22,469 shares of the company's stock valued at $1,929,000 after purchasing an additional 13,512 shares in the last quarter. Synovus Financial Corp bought a new position in shares of Sylvamo in the 3rd quarter valued at $207,000. Finally, Franklin Resources Inc. raised its holdings in shares of Sylvamo by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 47,955 shares of the company's stock worth $4,040,000 after buying an additional 4,261 shares in the last quarter. Institutional investors own 91.16% of the company's stock.

Insider Buying and Selling

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the sale, the chief executive officer now directly owns 131,894 shares in the company, valued at approximately $8,591,575.16. This trade represents a 13.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.74% of the stock is owned by insiders.

Sylvamo Price Performance

Shares of NYSE SLVM traded down $0.86 during mid-day trading on Friday, hitting $59.55. 226,476 shares of the stock traded hands, compared to its average volume of 326,309. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. The company has a market cap of $2.42 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. Sylvamo Co. has a twelve month low of $54.94 and a twelve month high of $98.02. The firm has a 50 day simple moving average of $64.78 and a two-hundred day simple moving average of $77.04.

Sylvamo (NYSE:SLVM - Get Free Report) last issued 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%. As a group, equities research analysts forecast that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.02%. Sylvamo's payout ratio is 24.97%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada decreased their target price on Sylvamo from $83.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th.

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.