HighTower Advisors LLC Boosts Holdings in Sylvamo Co. (NYSE:SLVM)

HighTower Advisors LLC grew its stake in Sylvamo Co. (NYSE:SLVM) by 473.5% during the 3rd quarter, Holdings Channel reports. The firm owned 18,467 shares of the company’s stock after purchasing an additional 15,247 shares during the quarter. HighTower Advisors LLC’s holdings in Sylvamo were worth $1,587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SLVM. Bank of Montreal Can lifted its stake in shares of Sylvamo by 2.8% in the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after buying an additional 154 shares in the last quarter. CWM LLC lifted its stake in Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Sylvamo by 59.0% during 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 last quarter. SummerHaven Investment Management LLC grew its position in shares of Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after purchasing an additional 216 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of Sylvamo by 116.6% in the third 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. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Price Performance

SLVM stock opened at $87.77 on Monday. Sylvamo Co. has a 52-week low of $44.94 and a 52-week high of $98.02. The business has a fifty day moving average of $87.78 and a two-hundred day moving average of $78.70. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 2.92 and a beta of 1.08. 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 issued 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. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. During the same period in the previous year, the firm earned $1.70 EPS. Sylvamo’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that Sylvamo Co. will post 7.15 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on SLVM. Sidoti started coverage on Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 target price for the company. Bank of America restated an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research report on Wednesday, December 11th.

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.