The Manufacturers Life Insurance Company Increases Stake in Sylvamo Co. (NYSE:SLVM)

The Manufacturers Life Insurance Company raised its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,688 shares of the company’s stock after buying an additional 336 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sylvamo were worth $1,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in Sylvamo by 10.0% during the second quarter. Millennium Management LLC now owns 345,944 shares of the company’s stock valued at $23,732,000 after buying an additional 31,360 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Sylvamo in the second quarter worth $238,000. Caxton Associates LP purchased a new stake in shares of Sylvamo in the second quarter worth $1,282,000. Squarepoint Ops LLC increased its stake in shares of Sylvamo by 188.0% in the second quarter. Squarepoint Ops LLC now owns 20,094 shares of the company’s stock worth $1,378,000 after purchasing an additional 13,117 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Sylvamo by 2.8% in the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after purchasing an additional 154 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sylvamo Stock Performance

SLVM opened at $83.70 on Friday. The stock has a market capitalization 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 has a fifty day moving average of $78.14 and a 200 day moving average of $70.91. Sylvamo Co. has a fifty-two week low of $40.79 and a fifty-two week high of $88.42. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, August 9th. The company reported $1.98 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $937.56 million. During the same quarter last year, the business earned $1.14 earnings per share. Sylvamo’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.15%. Sylvamo’s dividend payout ratio (DPR) 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.