State Street Corp Grows Stock Position in Sylvamo Co. (NYSE:SLVM)

State Street Corp increased its holdings in Sylvamo Co. (NYSE:SLVM) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,407,303 shares of the company’s stock after acquiring an additional 12,181 shares during the period. State Street Corp owned approximately 3.43% of Sylvamo worth $120,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares during the period. Independence Bank of Kentucky lifted its position in Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares during the last quarter. Fortitude Family Office LLC lifted its position in Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after buying an additional 239 shares during the last quarter. GAMMA Investing LLC boosted its stake in Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after buying an additional 171 shares during the period. Finally, Fifth Third Bancorp increased its position in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after acquiring an additional 303 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Trading Down 1.6 %

NYSE:SLVM opened at $87.77 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. Sylvamo Co. has a 1 year low of $44.94 and a 1 year high of $98.02. The stock has a market cap of $3.60 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.01 and a beta of 1.08. The stock has a 50-day simple moving average of $87.78 and a 200-day simple moving average of $78.64.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.18 by $0.26. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.70 earnings per share. As a group, analysts anticipate that Sylvamo Co. will post 7.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SLVM. Bank of America restated an “underperform” rating and issued a $96.00 price objective on shares of Sylvamo in a report on Wednesday. Sidoti started coverage on Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target on the stock.

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.