Monashee Investment Management LLC bought a new stake in shares of Sylvamo Co. (NYSE:SLVM – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 90,000 shares of the company's stock, valued at approximately $3,051,000. Sylvamo makes up about 1.1% of Monashee Investment Management LLC's holdings, making the stock its 9th biggest holding. Monashee Investment Management LLC owned about 0.20% of Sylvamo at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SLVM. First Trust Advisors LP purchased a new position in Sylvamo during the 1st quarter valued at about $69,597,000. BlackRock Inc. boosted its position in shares of Sylvamo by 4.9% during the 1st quarter. BlackRock Inc. now owns 5,014,392 shares of the company's stock valued at $166,879,000 after acquiring an additional 235,187 shares during the last quarter. FMR LLC boosted its position in shares of Sylvamo by 17.5% during the 2nd quarter. FMR LLC now owns 1,461,927 shares of the company's stock valued at $47,775,000 after acquiring an additional 217,597 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of Sylvamo by 317.5% during the 1st quarter. Royal London Asset Management Ltd. now owns 285,050 shares of the company's stock valued at $9,499,000 after acquiring an additional 216,777 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Sylvamo by 240.3% during the 2nd quarter. Renaissance Technologies LLC now owns 302,100 shares of the company's stock valued at $9,873,000 after acquiring an additional 213,320 shares during the last quarter. Hedge funds and other institutional investors own 85.95% of the company's stock.

Sylvamo Stock Performance

NYSE:SLVM opened at $48.00 on Friday. The business has a 50 day moving average of $50.44 and a 200 day moving average of $43.17. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 24.62 and a beta of 1.45. Sylvamo Co. has a 1-year low of $26.88 and a 1-year high of $57.38. The company has a debt-to-equity ratio of 4.65, a current ratio of 1.37 and a quick ratio of 1.04.

Sylvamo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be given a $0.25 dividend. This is an increase from Sylvamo's previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, January 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Sylvamo's payout ratio is presently 51.28%.

Analyst Ratings Changes

SLVM has been the subject of a number of research analyst reports. Bank of America downgraded Sylvamo from a "buy" rating to a "neutral" rating and lifted their price target for the company from $56.00 to $58.00 in a research report on Thursday, December 15th. Royal Bank of Canada lifted their price target on Sylvamo from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, November 11th.

About Sylvamo

(Get Rating)

Sylvamo Corporation produces and supplies printing paper in Latin America, Europe, and North America. The company offers uncoated freesheet for paper products, such as cutsize and offset paper; and markets pulp, aseptic, and liquid packaging board, as well as coated unbleached kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft; and bleached chemi-thermomechanical pulp.

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