Sylvamo Co. (NYSE:SLVM) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC reduced its position in Sylvamo Co. (NYSE:SLVM) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,582 shares of the company’s stock after selling 3,763 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Sylvamo were worth $1,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC grew its position in shares of Sylvamo by 62.5% during 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 grew its position in shares of Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Sylvamo during the first quarter worth about $45,000. Finally, Blue Trust Inc. grew its position in shares of Sylvamo by 534.1% during the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after buying an additional 689 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Price Performance

SLVM stock opened at $85.85 on Tuesday. The business has a 50 day moving average price of $76.51 and a 200 day moving average price of $69.61. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 5.01 and a beta of 1.07. Sylvamo Co. has a fifty-two week low of $40.79 and a fifty-two 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.

Sylvamo (NYSE:SLVM) last posted its earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.40. The firm had revenue of $933.00 million during 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%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. Equities research analysts anticipate that Sylvamo Co. will post 7.4 earnings per share for the current fiscal 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 paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, October 3rd. Sylvamo’s payout ratio is 38.38%.

Wall Street Analysts Forecast Growth

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

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.