New York State Common Retirement Fund Increases Holdings in Sylvamo Corporation $SLVM

New York State Common Retirement Fund boosted its position in Sylvamo Corporation (NYSE:SLVM) by 61.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,202 shares of the company’s stock after buying an additional 12,700 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Sylvamo worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Fourth Sail Capital LP acquired a new position in Sylvamo in the second quarter valued at approximately $8,146,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Sylvamo in the second quarter worth about $445,000. Intech Investment Management LLC boosted its stake in shares of Sylvamo by 47.5% during the 2nd quarter. Intech Investment Management LLC now owns 26,758 shares of the company’s stock worth $1,341,000 after acquiring an additional 8,618 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Sylvamo by 45.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 6,700 shares of the company’s stock worth $336,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Sylvamo by 74.4% during the 2nd quarter. Squarepoint Ops LLC now owns 158,497 shares of the company’s stock valued at $7,941,000 after acquiring an additional 67,616 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Stock Performance

NYSE SLVM opened at $51.60 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $49.64 and its 200-day simple moving average is $46.17. The company has a market cap of $2.04 billion, a PE ratio of 11.81 and a beta of 0.95. Sylvamo Corporation has a 1-year low of $37.51 and a 1-year high of $77.72.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, November 7th. The company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.13). The firm had revenue of $846.00 million for the quarter, compared to analysts’ expectations of $840.32 million. Sylvamo had a return on equity of 19.72% and a net margin of 5.25%.The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 earnings per share. As a group, equities research analysts anticipate that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Monday, January 5th were issued a $0.45 dividend. The ex-dividend date was Monday, January 5th. This represents a $1.80 dividend on an annualized basis and a yield of 3.5%. Sylvamo’s dividend payout ratio is presently 41.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SLVM shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $53.00 price target on shares of Sylvamo in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a research note on Wednesday, January 21st. Finally, Bank of America raised shares of Sylvamo from an “underperform” rating to a “buy” rating and lifted their price target for the company from $41.00 to $59.00 in a research note on Monday, November 17th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sylvamo currently has an average rating of “Hold” and an average price target of $56.00.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.