Raymond James Financial Inc. Acquires Shares of 45,969 Sylvamo Co. (NYSE:SLVM)

Raymond James Financial Inc. bought a new position in Sylvamo Co. (NYSE:SLVM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,969 shares of the company’s stock, valued at approximately $3,632,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SLVM. Tidal Investments LLC lifted its holdings in Sylvamo by 150.9% during the 3rd quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock worth $1,929,000 after purchasing an additional 13,512 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Sylvamo by 473.5% in the third quarter. HighTower Advisors LLC now owns 18,467 shares of the company’s stock worth $1,587,000 after buying an additional 15,247 shares in the last quarter. Citigroup Inc. boosted its position in shares of Sylvamo by 67.0% in the third quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock valued at $3,994,000 after acquiring an additional 18,657 shares during the period. GAMMA Investing LLC grew its stake in Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after acquiring an additional 201 shares in the last quarter. Finally, Martingale Asset Management L P increased its holdings in Sylvamo by 47.4% during the 3rd quarter. Martingale Asset Management L P now owns 51,137 shares of the company’s stock worth $4,390,000 after acquiring an additional 16,450 shares during the period. Institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Performance

Shares of NYSE SLVM opened at $66.91 on Friday. The stock’s 50-day moving average is $72.08 and its 200 day moving average is $80.03. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 2.23 and a beta of 1.15. Sylvamo Co. has a 1-year low of $56.35 and a 1-year high of $98.02. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. On average, sell-side analysts anticipate that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.69%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s dividend payout ratio is presently 24.97%.

Insider Buying and Selling at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares of the company’s stock, valued at $8,591,575.16. The trade was a 13.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SLVM shares. Bank of America reissued an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a report on Wednesday, December 11th. Royal Bank of Canada cut their target price on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th.

Sylvamo Company Profile

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.