First Citizens Bank & Trust Co. Takes $200,000 Position in Sylvamo Co. (NYSE:SLVM)

First Citizens Bank & Trust Co. purchased a new stake in Sylvamo Co. (NYSE:SLVM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,988 shares of the company’s stock, valued at approximately $200,000.

A number of other institutional investors have also recently bought and sold shares of SLVM. LSV Asset Management lifted its stake in Sylvamo by 3.8% during the fourth quarter. LSV Asset Management now owns 1,791,684 shares of the company’s stock valued at $141,579,000 after buying an additional 66,180 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Sylvamo by 39.7% during the fourth quarter. First Trust Advisors LP now owns 1,177,493 shares of the company’s stock valued at $93,045,000 after acquiring an additional 334,792 shares during the period. American Century Companies Inc. lifted its position in shares of Sylvamo by 15.2% in the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock valued at $80,289,000 after acquiring an additional 134,066 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sylvamo by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 923,792 shares of the company’s stock worth $73,011,000 after purchasing an additional 7,795 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Sylvamo by 16.6% in the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company’s stock worth $40,139,000 after purchasing an additional 72,226 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Trading Down 0.4%

Shares of NYSE SLVM opened at $52.84 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. Sylvamo Co. has a one year low of $51.55 and a one year high of $98.02. The business has a 50-day moving average price of $57.14 and a two-hundred day moving average price of $69.90. The firm has a market capitalization of $2.15 billion, a PE ratio of 7.33, a PEG ratio of 2.23 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. The company had revenue of $821.00 million for the quarter, compared to analyst estimates of $819.61 million. During the same quarter in the prior year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 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 3.41%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada cut their target price on shares of Sylvamo from $70.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th.

Insider Activity

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value 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. The trade was a 13.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.74% of the stock is currently owned by corporate insiders.

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.