Quest Partners LLC acquired a new stake in shares of Sylvamo Co. (NYSE:SLVM – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,847 shares of the company’s stock, valued at approximately $760,000.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after buying an additional 138,655 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Sylvamo by 105.7% during the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after purchasing an additional 7,291 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Sylvamo by 33.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,156 shares of the company’s stock worth $2,104,000 after purchasing an additional 8,503 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Sylvamo by 80.4% in the second quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company’s stock worth $1,590,000 after purchasing an additional 10,332 shares during the last quarter. Finally, Summit Global Investments purchased a new position in shares of Sylvamo in the second quarter worth $1,170,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Sidoti initiated coverage on shares of Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 target price on the stock. Bank of America lifted their price objective on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada increased their target price on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th.
Sylvamo Trading Up 1.5 %
Shares of Sylvamo stock opened at $88.70 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 13.79 and a beta of 1.08. Sylvamo Co. has a twelve month low of $44.94 and a twelve month high of $98.02. The business has a 50-day moving average price of $84.98 and a 200-day moving average price of $76.14.
Sylvamo (NYSE:SLVM – Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.18 by $0.26. The business had revenue of $965.00 million during 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%. Sylvamo’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 earnings per share. Equities research analysts anticipate that Sylvamo Co. will post 7.07 EPS for the current fiscal year.
Sylvamo Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s payout ratio is 27.99%.
Sylvamo 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.
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