Pacer Advisors Inc. Reduces Holdings in Sylvamo Corporation (NYSE:SLVM)

Pacer Advisors Inc. decreased its holdings in Sylvamo Corporation (NYSE:SLVM) by 75.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 445,351 shares of the company’s stock after selling 1,352,421 shares during the quarter. Pacer Advisors Inc.’s holdings in Sylvamo were worth $29,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. LSV Asset Management boosted its holdings in shares of Sylvamo by 3.8% in the fourth quarter. LSV Asset Management now owns 1,791,684 shares of the company’s stock worth $141,579,000 after buying an additional 66,180 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Sylvamo by 39.7% in the fourth quarter. First Trust Advisors LP now owns 1,177,493 shares of the company’s stock worth $93,045,000 after buying an additional 334,792 shares during the last quarter. Geode Capital Management LLC raised its stake in Sylvamo by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 923,792 shares of the company’s stock worth $73,011,000 after acquiring an additional 7,795 shares during the period. Allianz Asset Management GmbH raised its stake in Sylvamo by 6.8% during the 1st quarter. Allianz Asset Management GmbH now owns 542,288 shares of the company’s stock worth $36,371,000 after acquiring an additional 34,323 shares during the period. Finally, Northern Trust Corp raised its stake in Sylvamo by 6.9% during the 4th quarter. Northern Trust Corp now owns 403,900 shares of the company’s stock worth $31,916,000 after acquiring an additional 25,934 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America decreased their target price on shares of Sylvamo from $67.00 to $64.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 9th. Royal Bank Of Canada decreased their target price on shares of Sylvamo from $70.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th.

Sylvamo Price Performance

NYSE SLVM opened at $49.52 on Friday. Sylvamo Corporation has a 12 month low of $47.85 and a 12 month high of $98.02. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 1.93 and a beta of 1.01. The company’s 50 day moving average is $52.10 and its two-hundred day moving average is $62.24. The company has a current ratio of 1.64, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $821.00 million for the quarter, compared to the consensus estimate of $819.61 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. As a group, research analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo’s payout ratio is currently 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.