Public Employees Retirement Association of Colorado Cuts Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Public Employees Retirement Association of Colorado trimmed its stake in Sylvamo Co. (NYSE:SLVM) by 4.4% during the 2nd quarter, Holdings Channel reports. The firm owned 4,296 shares of the company’s stock after selling 197 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Sylvamo were worth $295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SLVM. CWM LLC increased its position in shares of Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Sylvamo by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock worth $1,165,000 after acquiring an additional 216 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Sylvamo by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock valued at $1,909,000 after purchasing an additional 400 shares in the last quarter. Finally, Independence Bank of Kentucky grew its holdings 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 valued at $28,000 after purchasing an additional 404 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on 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 raised their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd.

Sylvamo Trading Up 2.6 %

NYSE:SLVM opened at $84.74 on Friday. The firm has a market capitalization of $3.47 billion, a P/E ratio of 18.07, a P/E/G ratio of 5.01 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 quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. The company has a fifty day moving average of $76.23 and a 200 day moving average of $69.38.

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

Sylvamo Dividend Announcement

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

About Sylvamo

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.