American Century Companies Inc. Boosts Stock Position in Sylvamo Co. (NYSE:SLVM)

American Century Companies Inc. grew its holdings in Sylvamo Co. (NYSE:SLVM) by 53.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 662,953 shares of the company’s stock after purchasing an additional 230,291 shares during the period. American Century Companies Inc. owned about 1.61% of Sylvamo worth $45,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC grew its stake in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares in the last quarter. Independence Bank of Kentucky grew its position in shares of Sylvamo by 6,733.3% during the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sylvamo in the first quarter valued at about $45,000. Finally, Blue Trust Inc. lifted its stake in Sylvamo by 534.1% in the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after acquiring an additional 689 shares during the period. 91.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. Bank of America reissued a “neutral” rating and set a $82.00 price objective (up from $71.00) on shares of Sylvamo in a report on Monday, August 12th.

Sylvamo Price Performance

SLVM opened at $77.93 on Tuesday. The firm has a market capitalization of $3.20 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 4.41 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05. The business’s 50-day moving average is $73.71 and its two-hundred day moving average is $68.09. Sylvamo Co. has a 1 year low of $40.79 and a 1 year high of $81.06.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The firm had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. During the same quarter in the previous year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.31%. Sylvamo’s dividend payout ratio is presently 38.38%.

Sylvamo 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.