Gallacher Capital Management LLC Has $558,000 Stock Position in Sylvamo Co. (NYSE:SLVM)

Gallacher Capital Management LLC lowered its position in shares of Sylvamo Co. (NYSE:SLVM) by 11.9% in the fourth quarter, HoldingsChannel reports. The firm owned 7,064 shares of the company’s stock after selling 951 shares during the period. Gallacher Capital Management LLC’s holdings in Sylvamo were worth $558,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of Sylvamo by 83,084.0% during the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after buying an additional 2,301,427 shares in the last quarter. State Street Corp increased its holdings in Sylvamo by 0.9% during the 3rd quarter. State Street Corp now owns 1,407,303 shares of the company’s stock valued at $120,817,000 after purchasing an additional 12,181 shares in the last quarter. Geode Capital Management LLC increased its holdings in Sylvamo by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 915,997 shares of the company’s stock valued at $78,652,000 after purchasing an additional 27,859 shares in the last quarter. FMR LLC increased its holdings in Sylvamo by 4.4% during the 3rd quarter. FMR LLC now owns 724,391 shares of the company’s stock valued at $62,189,000 after purchasing an additional 30,345 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Sylvamo by 16.6% during the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company’s stock valued at $40,139,000 after purchasing an additional 72,226 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Bank of America restated an “underperform” rating and issued a $96.00 price objective on shares of Sylvamo in a research report on Wednesday, December 11th.

Insider Buying and Selling at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction on Monday, March 10th. The stock was sold at an average price of $65.53, for a total transaction 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. The trade was a 12.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.75% of the company’s stock.

Sylvamo Stock Up 2.8 %

NYSE SLVM opened at $65.42 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. Sylvamo Co. has a 52 week low of $56.20 and a 52 week high of $98.02. The stock has a market capitalization of $2.65 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The stock has a fifty day moving average of $74.15 and a 200-day moving average of $80.71.

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

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 2.75%. Sylvamo’s dividend payout ratio 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.