Texas Permanent School Fund Corp Has $2.07 Million Stock Position in Sylvamo Co. (NYSE:SLVM)

Texas Permanent School Fund Corp reduced its stake in shares of Sylvamo Co. (NYSE:SLVM) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,146 shares of the company’s stock after selling 766 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Sylvamo worth $2,068,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after acquiring an additional 138,655 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Sylvamo by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock valued at $56,406,000 after purchasing an additional 79,778 shares during the period. SG Americas Securities LLC bought a new stake in shares of Sylvamo during the second quarter valued at approximately $62,101,000. Bank of New York Mellon Corp lifted its position in Sylvamo by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock worth $33,176,000 after purchasing an additional 1,779 shares during the period. Finally, Norges Bank acquired a new stake in Sylvamo during the fourth quarter worth $10,206,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Stock Performance

Sylvamo stock opened at $79.25 on Wednesday. Sylvamo Co. has a 52-week low of $40.79 and a 52-week high of $81.23. 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 stock has a fifty day moving average price of $73.96 and a two-hundred day moving average price of $68.21. The firm has a market capitalization of $3.25 billion, a P/E ratio of 16.90, a P/E/G ratio of 4.41 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.40. The firm had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS. As a group, analysts anticipate that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.27%. Sylvamo’s dividend payout ratio (DPR) is presently 38.38%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLVM. Royal Bank of Canada increased their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Bank of America reissued a “neutral” rating and issued a $82.00 price target (up previously from $71.00) on shares of Sylvamo in a research report on Monday, August 12th.

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.