Fmr LLC Grows Stake in Sylvamo Co. (NYSE:SLVM)

Fmr LLC raised its stake in shares of Sylvamo Co. (NYSE:SLVM) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 724,391 shares of the company’s stock after purchasing an additional 30,345 shares during the period. Fmr LLC owned 1.77% of Sylvamo worth $62,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. CWM LLC raised its holdings in Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares during the period. Independence Bank of Kentucky lifted its holdings in shares of Sylvamo by 6,733.3% in the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after acquiring an additional 404 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after purchasing an additional 239 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after purchasing an additional 171 shares during the period. 91.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sylvamo Stock Up 1.6 %

Shares of SLVM stock opened at $90.53 on Friday. The stock’s fifty day moving average price is $87.02 and its 200 day moving average price is $77.82. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 14.08 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (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 the consensus estimate of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.70 earnings per share. On average, research analysts expect that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is presently 27.99%.

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.