Sylvamo Co. (NYSE:SLVM) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its position in shares of Sylvamo Co. (NYSE:SLVM) by 38.2% in the second quarter, Holdings Channel reports. The institutional investor owned 17,556 shares of the company’s stock after selling 10,865 shares during the period. AQR Capital Management LLC’s holdings in Sylvamo were worth $1,204,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SLVM. Vanguard Group Inc. boosted its stake in shares of Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after buying an additional 138,655 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sylvamo by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after purchasing an additional 62,157 shares during the period. SG Americas Securities LLC acquired a new position in shares of Sylvamo during the 2nd quarter worth $62,101,000. American Century Companies Inc. increased its holdings in shares of Sylvamo by 53.2% in the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after purchasing an additional 230,291 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Sylvamo by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock valued at $33,176,000 after purchasing an additional 1,779 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLVM. 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 report on Monday, August 12th. Bank of America raised their price objective on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $83.70 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 4.83 and a beta of 1.08. The company’s 50-day moving average price is $78.14 and its 200 day moving average price is $70.91. Sylvamo Co. has a 52 week low of $40.79 and a 52 week high of $88.42.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data 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. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. During the same period last year, the company posted $1.14 EPS. The company’s revenue was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be issued a $0.45 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. Sylvamo’s dividend payout ratio (DPR) is 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.