Barclays PLC Purchases 47,730 Shares of Sylvamo Co. (NYSE:SLVM)

Barclays PLC grew its position in Sylvamo Co. (NYSE:SLVM) by 324.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,435 shares of the company’s stock after purchasing an additional 47,730 shares during the period. Barclays PLC owned about 0.15% of Sylvamo worth $5,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLVM. CWM LLC raised its stake in Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares during the period. Independence Bank of Kentucky raised its position 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 purchasing an additional 404 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after purchasing an additional 303 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Sylvamo by 116.6% in 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 period. Finally, GAMMA Investing LLC increased its stake in 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 in the last quarter. 91.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SLVM has been the topic of a number of research reports. Bank of America reaffirmed an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research note on Wednesday, December 11th. Sidoti started coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective on the stock.

Sylvamo Stock Up 2.5 %

Shares of Sylvamo stock opened at $81.09 on Friday. The firm has a market cap of $3.33 billion, a PE ratio of 12.61, a P/E/G ratio of 2.92 and a beta of 1.08. The business’s 50 day simple moving average is $87.82 and its 200 day simple moving average is $79.00. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. Sylvamo Co. has a 52-week low of $44.94 and a 52-week high of $98.02.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 earnings per share. On average, analysts predict that Sylvamo Co. will post 7.15 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Monday, January 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Monday, January 6th. Sylvamo’s payout ratio is 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.