Sylvamo Co. (NYSE:SLVM) Stock Holdings Trimmed by CX Institutional

CX Institutional reduced its position in Sylvamo Co. (NYSE:SLVM) by 20.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,999 shares of the company’s stock after selling 4,912 shares during the quarter. CX Institutional’s holdings in Sylvamo were worth $1,631,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLVM. CWM LLC increased its holdings in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares during the last quarter. Independence Bank of Kentucky increased its holdings in Sylvamo by 6,733.3% in 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. Fifth Third Bancorp boosted its stake in Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after acquiring an additional 303 shares during the period. GAMMA Investing LLC boosted its stake in Sylvamo by 59.0% in the third 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, Lazard Asset Management LLC acquired a new position in Sylvamo in the first quarter valued at approximately $45,000. 91.16% of the stock is owned by institutional investors.

Sylvamo Stock Performance

Shares of NYSE SLVM opened at $85.36 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The stock has a 50 day simple moving average of $78.87 and a 200-day simple moving average of $71.37. The company has a market cap of $3.51 billion, a PE ratio of 18.20, a P/E/G ratio of 4.84 and a beta of 1.08. Sylvamo Co. has a 12-month low of $41.47 and a 12-month high of $88.42.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.40. The business had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities research analysts forecast that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.11%. Sylvamo’s dividend payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLVM. Royal Bank of Canada lifted their target price on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Sidoti began coverage on Sylvamo in a research note on Tuesday. They issued a “buy” rating and a $100.00 target price for the company. Finally, Bank of America lifted their target price on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd.

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.