CenterBook Partners LP Buys 22,440 Shares of Sylvamo Corporation $SLVM

CenterBook Partners LP bought a new stake in Sylvamo Corporation (NYSE:SLVM) during the third quarter, Holdings Channel.com reports. The firm bought 22,440 shares of the company’s stock, valued at approximately $733,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp grew its position in shares of Sylvamo by 3.2% during the second quarter. Van ECK Associates Corp now owns 13,428 shares of the company’s stock worth $508,000 after acquiring an additional 411 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Sylvamo by 68.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock worth $36,000 after acquiring an additional 446 shares during the period. Signaturefd LLC lifted its position in Sylvamo by 54.9% in the 3rd quarter. Signaturefd LLC now owns 1,380 shares of the company’s stock valued at $45,000 after purchasing an additional 489 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Sylvamo by 8.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 6,697 shares of the company’s stock valued at $253,000 after purchasing an additional 519 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Sylvamo by 11.4% during the 1st quarter. Royal Bank of Canada now owns 6,348 shares of the company’s stock valued at $268,000 after purchasing an additional 648 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company started coverage on shares of Sylvamo in a research report on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 target price for the company. Zacks Research raised Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Wall Street Zen raised Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Royal Bank Of Canada boosted their price objective on Sylvamo from $35.00 to $37.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Sylvamo in a research report on Wednesday, November 4th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.25.

Sylvamo Trading Up 0.3%

NYSE:SLVM opened at $38.10 on Wednesday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.78 and a beta of 0.87. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.29. Sylvamo Corporation has a 1 year low of $30.40 and a 1 year high of $56.80. The business has a fifty day moving average of $34.09 and a 200-day moving average of $39.64.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, November 6th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.20. Sylvamo had a negative net margin of 5.81% and a positive return on equity of 8.36%. The business had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $817.79 million. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s revenue was down 23.8% on a year-over-year basis. Equities analysts predict that Sylvamo Corporation will post 1.32 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Friday, October 2nd. Sylvamo’s dividend payout ratio is currently -39.91%.

Sylvamo Profile

Sylvamo Corporation is a global paper company that produces uncoated freesheet paper for a range of uses, including office and home printing, commercial printing, and publishing. Its products include copy and office papers, as well as specialty papers and market pulp. The company serves customers in North America, Latin America, and Europe. Its operations include manufacturing facilities in the United States, Brazil, and Europe, with products sold under various regional and consumer paper brands.