Algert Global LLC Has $883,000 Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Algert Global LLC raised its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 190.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,290 shares of the company’s stock after purchasing an additional 6,744 shares during the quarter. Algert Global LLC’s holdings in Sylvamo were worth $883,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Independence Bank of Kentucky lifted its holdings in shares of Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares in the last quarter. CWM LLC lifted its holdings in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after buying an additional 239 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Up 1.1 %

SLVM stock opened at $92.29 on Friday. The company has a market cap of $3.78 billion, a PE ratio of 14.35 and a beta of 1.08. The business has a 50-day simple moving average of $86.44 and a 200 day simple moving average of $77.25. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94.

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

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders 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 1.95%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s dividend payout ratio is presently 27.99%.

Wall Street Analysts Forecast Growth

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

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.