Citigroup Inc. Has $3.99 Million Holdings in Sylvamo Co. (NYSE:SLVM)

Citigroup Inc. boosted its stake in shares of Sylvamo Co. (NYSE:SLVM) by 67.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,518 shares of the company’s stock after buying an additional 18,657 shares during the period. Citigroup Inc.’s holdings in Sylvamo were worth $3,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its holdings in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares during the last quarter. Independence Bank of Kentucky boosted its position in 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 purchasing an additional 404 shares during the period. Fifth Third Bancorp boosted its position in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after purchasing an additional 303 shares during the period. Fortitude Family Office LLC boosted its position in 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 purchasing an additional 239 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Price Performance

Shares of SLVM opened at $91.92 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. The stock has a 50 day simple moving average of $86.78 and a 200 day simple moving average of $77.66. Sylvamo Co. has a 52-week low of $44.94 and a 52-week high of $98.02. The firm has a market capitalization of $3.77 billion, a PE ratio of 14.30 and a beta of 1.08.

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

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s dividend payout ratio is currently 27.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLVM. Sidoti started coverage on Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective for the company. Royal Bank of Canada lifted their price target on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Finally, Bank of America lifted their price objective on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd.

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.