Vestcor Inc Purchases New Position in Sylvamo Co. (NYSE:SLVM)

Vestcor Inc acquired a new position in shares of Sylvamo Co. (NYSE:SLVM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,112 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of Sylvamo by 83,084.0% in the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after purchasing an additional 2,301,427 shares during the period. Allianz Asset Management GmbH boosted its stake in Sylvamo by 16.6% during the fourth 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 period. Barclays PLC increased its position in Sylvamo by 324.6% during the third quarter. Barclays PLC now owns 62,435 shares of the company’s stock valued at $5,360,000 after acquiring an additional 47,730 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Sylvamo in the fourth quarter valued at $3,632,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Sylvamo in the 3rd quarter worth about $3,046,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $65.53, for a total value of $1,392,512.50. Following the completion of the sale, the chief executive officer now directly owns 153,144 shares of the company’s stock, valued at $10,035,526.32. This represents a 12.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of 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 reaffirmed an “underperform” rating and set a $96.00 target price on shares of Sylvamo in a research note on Wednesday, December 11th.

Sylvamo Stock Up 0.3 %

Shares of SLVM opened at $65.60 on Tuesday. The firm has a fifty day moving average price of $73.88 and a 200-day moving average price of $80.65. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $2.66 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.23 and a beta of 1.15. Sylvamo Co. has a 12-month low of $56.20 and a 12-month high of $98.02.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. Equities research analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 2.74%. Sylvamo’s dividend payout ratio (DPR) is currently 24.97%.

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.