Wilmington Savings Fund Society FSB Acquires Shares of 953 Sylvamo Co. (NYSE:SLVM)

Wilmington Savings Fund Society FSB bought a new position in Sylvamo Co. (NYSE:SLVM) during the 3rd quarter, Holdings Channel.com reports. The fund bought 953 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CWM LLC grew its position in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. Independence Bank of Kentucky grew its holdings in Sylvamo by 6,733.3% during the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares in the last quarter. Fifth Third Bancorp increased its stake in Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the last quarter. 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 worth $38,000 after acquiring an additional 239 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position 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 acquiring an additional 171 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Performance

Shares of Sylvamo stock opened at $81.09 on Friday. Sylvamo Co. has a 12 month low of $44.94 and a 12 month high of $98.02. The stock’s fifty day moving average price is $87.82 and its 200-day moving average price is $79.00. The firm has a market cap of $3.33 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.92 and a beta of 1.08. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last posted its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26. The company had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. Sylvamo’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 earnings per share. On average, equities research analysts expect that Sylvamo Co. will post 7.15 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Monday, January 6th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, January 6th. Sylvamo’s payout ratio is currently 27.99%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SLVM. Bank of America reaffirmed an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a research note on Wednesday, December 11th. Sidoti began coverage on Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock.

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.