Geode Capital Management LLC Boosts Stake in Sylvamo Corporation $SLVM

Geode Capital Management LLC lifted its holdings in Sylvamo Corporation (NYSE:SLVM) by 0.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 985,834 shares of the company’s stock after acquiring an additional 6,989 shares during the quarter. Geode Capital Management LLC’s holdings in Sylvamo were worth $49,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jane Street Group LLC grew its stake in Sylvamo by 248.4% in the 1st quarter. Jane Street Group LLC now owns 174,648 shares of the company’s stock valued at $11,714,000 after purchasing an additional 124,521 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Sylvamo during the 2nd quarter worth $445,000. Fourth Sail Capital LP purchased a new position in shares of Sylvamo in the 2nd quarter worth about $8,146,000. Strs Ohio bought a new position in Sylvamo during the first quarter valued at about $838,000. Finally, Nuveen LLC purchased a new stake in Sylvamo during the first quarter worth about $6,371,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SLVM. Royal Bank Of Canada boosted their target price on shares of Sylvamo from $47.00 to $49.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Bank of America upgraded Sylvamo from an “underperform” rating to a “buy” rating and upped their price objective for the company from $41.00 to $59.00 in a research note on Monday, November 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Sylvamo in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Sylvamo to a “strong sell” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $54.00.

Sylvamo Stock Down 1.9%

SLVM opened at $45.79 on Tuesday. Sylvamo Corporation has a 12 month low of $37.51 and a 12 month high of $96.42. The company has a market cap of $1.81 billion, a PE ratio of 10.48 and a beta of 0.96. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $43.40 and a 200 day moving average of $47.33.

Sylvamo (NYSE:SLVM) last posted its earnings results on Friday, November 7th. The company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.13). Sylvamo had a return on equity of 19.72% and a net margin of 5.25%.The company had revenue of $846.00 million for the quarter, compared to analysts’ expectations of $840.32 million. During the same quarter in the prior year, the company earned $2.44 EPS. The company’s revenue was down 12.3% on a year-over-year basis. On average, sell-side analysts expect that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, October 3rd. Sylvamo’s payout ratio is presently 41.19%.

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.