Raymond James & Associates decreased its holdings in shares of Sylvamo Co. (NYSE:SLVM – Get Rating) by 23.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,326 shares of the company's stock after selling 2,924 shares during the quarter. Raymond James & Associates' holdings in Sylvamo were worth $316,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tyler Stone Wealth Management bought a new position in shares of Sylvamo during the 2nd quarter worth about $25,000. Federated Hermes Inc. bought a new position in Sylvamo during the first quarter valued at about $25,000. DekaBank Deutsche Girozentrale acquired a new position in Sylvamo in the 2nd quarter valued at approximately $31,000. Van ECK Associates Corp bought a new stake in shares of Sylvamo in the 2nd quarter worth approximately $34,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Sylvamo during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 85.95% of the company's stock.
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Wall Street Analyst Weigh In
SLVM has been the subject of a number of recent research reports. Royal Bank of Canada upped 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 shares of Sylvamo from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $56.00 to $58.00 in a report on Thursday, December 15th.
Sylvamo Trading Up 1.0 %
Shares of SLVM opened at $48.83 on Friday. The stock has a 50 day simple moving average of $50.04 and a 200-day simple moving average of $44.92. The company has a current ratio of 1.37, a quick ratio of 1.04 and a debt-to-equity ratio of 4.65. The stock has a market cap of $2.15 billion, a PE ratio of 25.04 and a beta of 1.23. Sylvamo Co. has a 1 year low of $28.37 and a 1 year high of $57.38.
Sylvamo (NYSE:SLVM – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported $2.51 EPS for the quarter. Sylvamo had a net margin of 2.25% and a return on equity of 142.22%. The company had revenue of $968.00 million for the quarter. On average, sell-side analysts predict that Sylvamo Co. will post 2.68 EPS for the current fiscal year.
Sylvamo Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th were issued a dividend of $0.25 per share. This is a positive change from Sylvamo's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, January 3rd. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. Sylvamo's dividend payout ratio (DPR) is presently 51.28%.
Sylvamo Profile
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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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