KLP Kapitalforvaltning AS Takes Position in Sylvamo Co. (NYSE:SLVM)

KLP Kapitalforvaltning AS acquired a new stake in shares of Sylvamo Co. (NYSE:SLVM) during the fourth quarter, HoldingsChannel reports. The fund acquired 10,500 shares of the company’s stock, valued at approximately $830,000.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC boosted its position in Sylvamo by 150.9% during the 3rd quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock valued at $1,929,000 after acquiring an additional 13,512 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Sylvamo by 473.5% during the 3rd quarter. HighTower Advisors LLC now owns 18,467 shares of the company’s stock worth $1,587,000 after purchasing an additional 15,247 shares during the last quarter. Citigroup Inc. boosted its position in Sylvamo by 67.0% during the third quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock valued at $3,994,000 after purchasing an additional 18,657 shares in the last quarter. GAMMA Investing LLC grew its stake in Sylvamo by 43.6% in the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after purchasing an additional 201 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Sylvamo by 224.6% during the fourth quarter. Blue Trust Inc. now owns 11,284 shares of the company’s stock valued at $969,000 after buying an additional 7,808 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Sylvamo Stock Performance

SLVM opened at $67.19 on Tuesday. The company has a market cap of $2.72 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $71.65 and its 200-day moving average price is $80.01. Sylvamo Co. has a 52-week low of $56.35 and a 52-week high of $98.02.

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

Sylvamo Dividend Announcement

The company 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 dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 2.68%. Sylvamo’s payout ratio is presently 24.97%.

Analysts Set New Price Targets

SLVM has been the topic of a number of analyst reports. Bank of America reaffirmed an “underperform” rating and issued a $96.00 price objective on shares of Sylvamo in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their price target on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock 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.