Cibc World Markets Corp Purchases 3,255 Shares of Sylvamo Co. (NYSE:SLVM)

Cibc World Markets Corp boosted its position in Sylvamo Co. (NYSE:SLVM) by 7.2% during the fourth quarter, HoldingsChannel reports. The fund owned 48,255 shares of the company’s stock after buying an additional 3,255 shares during the quarter. Cibc World Markets Corp’s holdings in Sylvamo were worth $3,813,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Sylvamo during the third quarter valued at about $760,000. Intech Investment Management LLC bought a new stake in shares of Sylvamo during the third quarter valued at about $1,633,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Sylvamo during the third quarter valued at about $3,046,000. Pacer Advisors Inc. increased its position 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 valued at $197,815,000 after buying an additional 2,301,427 shares during the period. Finally, Citigroup Inc. increased its position in shares of Sylvamo by 67.0% during the third quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock valued at $3,994,000 after buying an additional 18,657 shares during the period. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Stock Up 0.9 %

Shares of SLVM opened at $66.49 on Thursday. The firm has a market cap of $2.70 billion, a P/E ratio of 9.22, a P/E/G ratio of 2.23 and a beta of 1.15. The stock has a 50 day simple moving average of $73.46 and a two-hundred day simple moving average of $80.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. Sylvamo Co. has a 1 year low of $56.35 and a 1 year 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 for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. On average, analysts forecast that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s dividend payout ratio (DPR) is presently 24.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SLVM shares. Bank of America reiterated an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th. Royal Bank of Canada decreased their price objective on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th.

Insider Activity

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the sale, the chief executive officer now owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. This represents a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company’s 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.