Sylvamo Co. (NYSE:SLVM) Shares Purchased by CX Institutional

CX Institutional grew its position in shares of Sylvamo Co. (NYSE:SLVM) by 9.0% during the first quarter, HoldingsChannel reports. The firm owned 21,133 shares of the company’s stock after buying an additional 1,748 shares during the period. CX Institutional’s holdings in Sylvamo were worth $1,417,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SLVM. Smartleaf Asset Management LLC boosted its holdings in Sylvamo by 182.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $49,000 after purchasing an additional 403 shares during the period. Covestor Ltd raised its position in Sylvamo by 464.5% in the fourth quarter. Covestor Ltd now owns 779 shares of the company’s stock worth $62,000 after acquiring an additional 641 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Sylvamo by 12.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company’s stock worth $159,000 after acquiring an additional 218 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Sylvamo during the 1st quarter worth about $200,000. Finally, DRW Securities LLC acquired a new stake in Sylvamo during the 4th quarter worth about $225,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Insider Activity at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at $8,591,575.16. This represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.74% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Sylvamo Stock Down 0.3%

Shares of Sylvamo stock opened at $52.63 on Friday. The stock has a market capitalization of $2.14 billion, a P/E ratio of 7.30, a PEG ratio of 2.23 and a beta of 1.07. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average price of $57.04 and a two-hundred day moving average price of $69.61. Sylvamo Co. has a 12-month low of $51.55 and a 12-month high of $98.02.

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

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.42%. Sylvamo’s payout ratio is 26.32%.

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.