AE Wealth Management LLC Makes New $212,000 Investment in Sylvamo Co. (NYSE:SLVM)

AE Wealth Management LLC purchased a new stake in Sylvamo Co. (NYSE:SLVM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,084 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds have also recently modified their holdings of SLVM. CWM LLC raised 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 buying an additional 157 shares in the last quarter. Independence Bank of Kentucky raised its position in shares of Sylvamo by 6,733.3% in the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after acquiring an additional 404 shares in the last quarter. Fifth Third Bancorp lifted its stake 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 purchasing an additional 303 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sylvamo during the first quarter valued at about $45,000. Finally, Blue Trust Inc. grew its stake in Sylvamo by 534.1% in the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $56,000 after purchasing an additional 689 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Up 2.6 %

Shares of SLVM stock opened at $84.74 on Friday. The stock’s fifty day moving average price is $76.23 and its 200 day moving average price is $69.38. Sylvamo Co. has a 1-year low of $40.79 and a 1-year high of $88.42. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 5.01 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.

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

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. Sylvamo’s payout ratio is currently 38.38%.

Wall Street Analyst Weigh In

Several research firms have commented on SLVM. Bank of America increased their price target on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada increased 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.

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.