AlphaQuest LLC Acquires 15,382 Shares of Sylvamo Corporation $SLVM

AlphaQuest LLC increased its holdings in Sylvamo Corporation (NYSE:SLVM) by 556.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 18,146 shares of the company’s stock after purchasing an additional 15,382 shares during the period. AlphaQuest LLC’s holdings in Sylvamo were worth $909,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company’s stock worth $200,843,000 after purchasing an additional 149,326 shares during the last quarter. Victory Capital Management Inc. boosted its position in Sylvamo by 351.8% in the first quarter. Victory Capital Management Inc. now owns 166,844 shares of the company’s stock worth $11,190,000 after purchasing an additional 129,916 shares during the last quarter. Jane Street Group LLC boosted its position in Sylvamo by 248.4% in the first quarter. Jane Street Group LLC now owns 174,648 shares of the company’s stock worth $11,714,000 after purchasing an additional 124,521 shares during the last quarter. American Century Companies Inc. boosted its position in Sylvamo by 10.6% in the first quarter. American Century Companies Inc. now owns 1,123,686 shares of the company’s stock worth $75,366,000 after purchasing an additional 107,622 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Sylvamo in the first quarter worth about $6,371,000. 91.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLVM. Bank of America dropped their target price on Sylvamo from $67.00 to $64.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 9th. Zacks Research raised Sylvamo to a “strong sell” rating in a research report on Monday, August 11th. Royal Bank Of Canada set a $49.00 price objective on Sylvamo and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a research report on Friday. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $56.50.

Sylvamo Stock Down 1.5%

SLVM stock opened at $42.85 on Monday. Sylvamo Corporation has a twelve month low of $37.51 and a twelve month high of $98.02. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.73 billion, a P/E ratio of 8.19 and a beta of 0.97. The business’s 50-day moving average price is $43.71 and its 200-day moving average price is $49.80.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). The business had revenue of $794.00 million for the quarter, compared to the consensus estimate of $826.60 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the business posted $1.98 EPS. On average, equities research analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is 34.42%.

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.