ProShare Advisors LLC Buys 3,785 Shares of Sylvamo Co. (NYSE:SLVM)

ProShare Advisors LLC boosted its position in shares of Sylvamo Co. (NYSE:SLVM) by 52.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,996 shares of the company’s stock after acquiring an additional 3,785 shares during the period. ProShare Advisors LLC’s holdings in Sylvamo were worth $754,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SLVM. SG Americas Securities LLC acquired a new stake in Sylvamo during the second quarter worth $62,101,000. American Century Companies Inc. increased its stake in Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after acquiring an additional 230,291 shares during the period. Norges Bank acquired a new position in Sylvamo in the fourth quarter worth about $10,206,000. Acadian Asset Management LLC bought a new position in Sylvamo during the second quarter worth about $9,997,000. Finally, Vanguard Group Inc. boosted its holdings 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 purchasing an additional 138,655 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Bank of America lifted their price objective on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd.

Sylvamo Stock Performance

NYSE:SLVM opened at $84.74 on Friday. The stock has a market capitalization of $3.47 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 5.01 and a beta of 1.07. Sylvamo Co. has a 1 year low of $40.79 and a 1 year high of $88.42. The firm has a 50 day moving average of $76.23 and a 200-day moving average of $69.38. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

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

Sylvamo Dividend Announcement

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

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.