Sanctuary Advisors LLC Acquires Shares of 8,910 Sylvamo Co. (NYSE:SLVM)

Sanctuary Advisors LLC bought a new position in Sylvamo Co. (NYSE:SLVM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,910 shares of the company’s stock, valued at approximately $562,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Sylvamo by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 2,692,101 shares of the company’s stock worth $132,209,000 after acquiring an additional 71,770 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Sylvamo during the first quarter valued at $793,000. Allspring Global Investments Holdings LLC bought a new position in Sylvamo during the first quarter valued at $4,208,000. Vest Financial LLC purchased a new position in shares of Sylvamo in the 1st quarter worth $847,000. Finally, Janney Montgomery Scott LLC raised its position in shares of Sylvamo by 4.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,870 shares of the company’s stock valued at $795,000 after buying an additional 547 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SLVM shares. Sidoti began coverage on Sylvamo in a research report on Tuesday. They issued a “buy” rating and a $100.00 price target for the company. Bank of America increased their price target on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th.

Sylvamo Trading Up 1.3 %

Shares of NYSE SLVM opened at $85.36 on Wednesday. Sylvamo Co. has a fifty-two week low of $41.47 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. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 4.84 and a beta of 1.08. The business’s 50 day moving average price is $78.87 and its 200-day moving average price is $71.37.

Sylvamo (NYSE:SLVM) last released 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 business had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. On average, sell-side analysts expect that Sylvamo Co. will post 7.4 earnings per share for the current year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.11%. Sylvamo’s dividend payout ratio is currently 38.38%.

Sylvamo 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.