New York State Teachers Retirement System cut its position in shares of Sylvamo Co. (NYSE:SLVM – Get Rating) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,329 shares of the company's stock after selling 5,257 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Sylvamo worth $1,537,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLVM. Federated Hermes Inc. acquired a new stake in shares of Sylvamo in the first quarter valued at about $25,000. Tyler Stone Wealth Management acquired a new stake in shares of Sylvamo in the second quarter valued at about $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Sylvamo in the second quarter valued at about $31,000. Van ECK Associates Corp acquired a new stake in shares of Sylvamo in the second quarter valued at about $34,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Sylvamo in the second quarter valued at about $49,000. 85.95% of the stock is currently owned by institutional investors and hedge funds.
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Sylvamo Trading Down 0.4 %
Shares of SLVM opened at $47.38 on Thursday. The company has a market capitalization of $2.09 billion, a P/E ratio of 24.30 and a beta of 1.45. Sylvamo Co. has a one year low of $26.88 and a one year high of $57.38. The company has a debt-to-equity ratio of 4.65, a quick ratio of 1.04 and a current ratio of 1.37. The stock has a 50-day moving average price of $50.54 and a 200 day moving average price of $43.54.
Sylvamo (NYSE:SLVM – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported $2.51 EPS for the quarter. The firm had revenue of $968.00 million during the quarter. Sylvamo had a return on equity of 142.22% and a net
margin of 2.25%. Sell-side analysts forecast that Sylvamo Co. will post 2.68 EPS for the current fiscal year.
Sylvamo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Tuesday, January 3rd. This is an increase from Sylvamo's previous quarterly dividend of $0.11. Sylvamo's dividend payout ratio (DPR) is currently 51.28%.
Analyst Ratings Changes
A number of research firms have recently issued reports on SLVM. Royal Bank of Canada increased their target price on Sylvamo from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, November 11th. Bank of America downgraded Sylvamo from a "buy" rating to a "neutral" rating and increased their price target for the company from $56.00 to $58.00 in a report on Thursday, December 15th.
About Sylvamo
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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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