Chesapeake Capital Corp IL Raises Stake in Sylvamo Co. (NYSE:SLVM)

Chesapeake Capital Corp IL raised its position in Sylvamo Co. (NYSE:SLVM) by 27.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,118 shares of the company’s stock after acquiring an additional 1,989 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Sylvamo were worth $773,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after acquiring an additional 138,655 shares during the last quarter. Simplicity Wealth LLC lifted its stake in Sylvamo by 105.7% in the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock worth $974,000 after acquiring an additional 7,291 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Sylvamo by 33.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,156 shares of the company’s stock worth $2,104,000 after acquiring an additional 8,503 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Sylvamo by 80.4% in the second quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company’s stock worth $1,590,000 after acquiring an additional 10,332 shares during the last quarter. Finally, Summit Global Investments purchased a new position in Sylvamo in the second quarter worth approximately $1,170,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. Bank of America boosted their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Sidoti assumed coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company.

Sylvamo Stock Performance

Shares of Sylvamo stock opened at $84.59 on Friday. The firm’s fifty day simple moving average is $83.95 and its 200-day simple moving average is $75.59. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 4.73 and a beta of 1.08. Sylvamo Co. has a 12 month low of $44.94 and a 12 month high of $98.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.05.

Sylvamo (NYSE:SLVM) last announced its earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.70 EPS. As a group, equities analysts forecast that Sylvamo Co. will post 7.07 earnings per share for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. Sylvamo’s payout ratio is 27.99%.

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.