Empowered Funds LLC bought a new stake in shares of Sylvamo Co. (NYSE:SLVM – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,648 shares of the company's stock, valued at approximately $1,514,000. Empowered Funds LLC owned approximately 0.10% of Sylvamo at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Tyler Stone Wealth Management purchased a new stake in shares of Sylvamo during the 2nd quarter valued at about $25,000. Federated Hermes Inc. purchased a new stake in Sylvamo in the 1st quarter worth about $25,000. DekaBank Deutsche Girozentrale purchased a new stake in Sylvamo in the 2nd quarter worth about $31,000. Van ECK Associates Corp purchased a new stake in Sylvamo in the 2nd quarter worth about $34,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in Sylvamo in the 2nd quarter worth about $49,000. 85.95% of the stock is currently owned by hedge funds and other institutional investors.
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Sylvamo Stock Performance
Shares of NYSE:SLVM opened at $47.13 on Wednesday. The firm has a market cap of $2.08 billion, a PE ratio of 24.17 and a beta of 1.45. The firm's 50 day simple moving average is $50.62 and its 200-day simple moving average is $44.08. 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.
Sylvamo (NYSE:SLVM – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported $2.51 earnings per share (EPS) for the quarter. Sylvamo had a net
margin of 2.25% and a return on equity of 142.22%. The firm had revenue of $968.00 million for the quarter. As a group, equities analysts predict that Sylvamo Co. will post 2.68 EPS for the current year.
Sylvamo Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, January 3rd. This is an increase from Sylvamo's previous quarterly dividend of $0.11. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Sylvamo's dividend payout ratio (DPR) is currently 51.28%.
Analyst Ratings Changes
A number of analysts recently weighed in on SLVM shares. Royal Bank of Canada increased their price objective on shares of Sylvamo from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, November 11th. Bank of America lowered shares of Sylvamo from a "buy" rating to a "neutral" rating and raised their target price for the stock from $56.00 to $58.00 in a research 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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