PEAK6 Investments LLC Takes $240,000 Position in Sylvamo Co. (NYSE:SLVM)

PEAK6 Investments LLC acquired a new stake in Sylvamo Co. (NYSE:SLVM) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 2,790 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also modified their holdings of SLVM. Bank of Montreal Can raised its holdings in shares of Sylvamo by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock valued at $389,000 after buying an additional 154 shares during the period. CWM LLC raised its holdings in shares of Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares during the period. GAMMA Investing LLC raised its holdings in shares of Sylvamo by 59.0% during the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after buying an additional 171 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Sylvamo by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after buying an additional 216 shares during the period. Finally, Fortitude Family Office LLC raised its holdings in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after buying an additional 239 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SLVM. Royal Bank of Canada raised their target price on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Sidoti began coverage on Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Bank of America raised their target price on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd.

Sylvamo Price Performance

SLVM stock opened at $89.58 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. Sylvamo Co. has a 52-week low of $44.94 and a 52-week high of $98.02. The stock’s 50 day moving average is $86.89 and its two-hundred day moving average is $77.75. The company has a market capitalization of $3.67 billion, a PE ratio of 13.93 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. During the same period in the previous year, the business earned $1.70 EPS. Sylvamo’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts predict that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.01%. Sylvamo’s dividend payout ratio is presently 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.