New York State Teachers Retirement System Has $4.27 Million Position in Sylvamo Co. (NYSE:SLVM)

New York State Teachers Retirement System cut its stake in Sylvamo Co. (NYSE:SLVM) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,729 shares of the company’s stock after selling 400 shares during the period. New York State Teachers Retirement System’s holdings in Sylvamo were worth $4,269,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its stake in Sylvamo by 4.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,870 shares of the company’s stock valued at $795,000 after purchasing an additional 547 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Sylvamo by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after buying an additional 400 shares in the last quarter. Duality Advisers LP acquired a new stake in Sylvamo during the first quarter worth about $261,000. Concurrent Investment Advisors LLC acquired a new stake in Sylvamo during the first quarter worth about $586,000. Finally, Sei Investments Co. grew its stake in Sylvamo by 3.6% during the first quarter. Sei Investments Co. now owns 31,443 shares of the company’s stock worth $1,941,000 after buying an additional 1,096 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Trading Up 7.3 %

SLVM opened at $94.30 on Thursday. The company’s 50 day moving average is $82.25 and its 200-day moving average is $74.28. Sylvamo Co. has a 1-year low of $43.94 and a 1-year high of $95.11. 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 company has a market cap of $3.87 billion, a P/E ratio of 17.05, a PEG ratio of 4.56 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating 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 company had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. During the same period last year, the company posted $1.14 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts predict that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.91%. Sylvamo’s dividend payout ratio is presently 32.55%.

Analysts Set New Price Targets

SLVM has been the topic of a number of analyst reports. Sidoti initiated coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective 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. Finally, Royal Bank of Canada raised their price target on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th.

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.