Allspring Global Investments Holdings LLC Buys Shares of 68,151 Sylvamo Co. (NYSE:SLVM)

Allspring Global Investments Holdings LLC purchased a new position in Sylvamo Co. (NYSE:SLVM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 68,151 shares of the company’s stock, valued at approximately $4,208,000. Allspring Global Investments Holdings LLC owned approximately 0.16% of Sylvamo as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp bought a new position in Sylvamo during the 4th quarter valued at $219,000. Truist Financial Corp bought a new position in shares of Sylvamo during the 4th quarter valued at about $308,000. Donoghue Forlines LLC raised its holdings in shares of Sylvamo by 4.0% in the 4th quarter. Donoghue Forlines LLC now owns 7,135 shares of the company’s stock worth $350,000 after purchasing an additional 275 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Sylvamo by 12.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,775 shares of the company’s stock valued at $382,000 after purchasing an additional 832 shares during the last quarter. Finally, U S Global Investors Inc. bought a new stake in Sylvamo during the fourth quarter worth approximately $393,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their price objective on Sylvamo from $56.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Monday, May 13th.

Sylvamo Stock Down 0.1 %

Shares of Sylvamo stock traded down $0.07 on Tuesday, hitting $67.48. 8,233 shares of the company traded hands, compared to its average volume of 343,500. The company has a quick ratio of 1.09, a current ratio of 1.72 and a debt-to-equity ratio of 1.04. Sylvamo Co. has a 12-month low of $37.59 and a 12-month high of $72.48. The company has a 50-day moving average price of $68.13 and a 200 day moving average price of $58.94. The company has a market cap of $2.78 billion, a PE ratio of 14.40, a PEG ratio of 0.34 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last posted its earnings results on Friday, May 10th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The firm had revenue of $905.00 million during the quarter, compared to analysts’ expectations of $864.38 million. During the same period in the previous year, the company earned $2.51 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts predict that Sylvamo Co. will post 6.75 earnings per share for the current year.

Sylvamo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Monday, July 8th will be given a dividend of $0.45 per share. This is a positive change from Sylvamo’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.67%. Sylvamo’s payout ratio is currently 25.59%.

Sylvamo Company 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.