Pitcairn Co. Invests $303,000 in Sylvamo Co. (NYSE:SLVM)

Pitcairn Co. acquired a new position in shares of Sylvamo Co. (NYSE:SLVM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,535 shares of the company’s stock, valued at approximately $303,000.

A number of other hedge funds have also bought and sold shares of the company. Algert Global LLC grew its stake in Sylvamo by 190.2% during the third quarter. Algert Global LLC now owns 10,290 shares of the company’s stock worth $883,000 after purchasing an additional 6,744 shares during the period. Citigroup Inc. boosted its holdings in shares of Sylvamo by 67.0% during the 3rd quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock worth $3,994,000 after buying an additional 18,657 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Sylvamo by 83,084.0% during the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after buying an additional 2,301,427 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Sylvamo in the 3rd quarter valued at $3,046,000. Finally, Intech Investment Management LLC acquired a new position in shares of Sylvamo during the 3rd quarter valued at $1,633,000. Institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Down 3.4 %

Sylvamo stock opened at $91.26 on Thursday. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 14.19 and a beta of 1.08. The firm’s fifty day moving average price is $86.14 and its two-hundred day moving average price is $76.98. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 EPS. On average, equities research analysts predict that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s payout ratio is currently 27.99%.

Analyst Ratings Changes

SLVM has been the subject of a number of research reports. Sidoti started coverage on shares of Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Royal Bank of Canada boosted their target price on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. Finally, Bank of America increased their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd.

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.