Public Sector Pension Investment Board Purchases 4,558 Shares of Sylvamo Co. (NYSE:SLVM)

Public Sector Pension Investment Board boosted its position in Sylvamo Co. (NYSE:SLVM) by 6.3% in the 2nd quarter, Holdings Channel reports. The firm owned 76,959 shares of the company’s stock after buying an additional 4,558 shares during the quarter. Public Sector Pension Investment Board’s holdings in Sylvamo were worth $5,279,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in shares of Sylvamo during the fourth quarter valued at $605,000. Norges Bank bought a new stake in Sylvamo during the 4th quarter valued at about $10,206,000. Allianz Asset Management GmbH boosted its position in Sylvamo by 15.2% in the 4th quarter. Allianz Asset Management GmbH now owns 159,189 shares of the company’s stock valued at $7,818,000 after buying an additional 21,026 shares during the period. Cibc World Markets Corp bought a new position in Sylvamo in the 4th quarter worth about $2,456,000. Finally, Vanguard Group Inc. raised its stake in shares of Sylvamo by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 2,692,101 shares of the company’s stock valued at $132,209,000 after acquiring an additional 71,770 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Price Performance

NYSE SLVM opened at $84.35 on Thursday. The company has a market cap of $3.46 billion, a PE ratio of 17.99, a P/E/G ratio of 4.89 and a beta of 1.07. Sylvamo Co. has a 52-week low of $40.79 and a 52-week high of $88.42. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. The firm’s 50 day moving average price is $75.47 and its 200-day moving average price is $68.98.

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 analysts’ consensus estimates of $1.58 by $0.40. The business had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Sell-side analysts forecast that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, October 3rd. Sylvamo’s payout ratio is 38.38%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLVM. Bank of America increased their price objective on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday. Royal Bank of Canada raised their price target on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th.

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.