Federated Hermes Inc. Grows Position in Sylvamo Co. (NYSE:SLVM)

Federated Hermes Inc. boosted its holdings in Sylvamo Co. (NYSE:SLVM) by 278.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,214 shares of the company’s stock after buying an additional 7,515 shares during the quarter. Federated Hermes Inc.’s holdings in Sylvamo were worth $701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vest Financial LLC raised its stake in Sylvamo by 18.4% during the 2nd quarter. Vest Financial LLC now owns 16,252 shares of the company’s stock valued at $1,115,000 after buying an additional 2,531 shares during the last quarter. BOKF NA increased its position in Sylvamo by 41.7% during the second quarter. BOKF NA now owns 16,029 shares of the company’s stock valued at $1,100,000 after acquiring an additional 4,720 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Sylvamo by 47.6% in the second quarter. Jupiter Asset Management Ltd. now owns 182,990 shares of the company’s stock valued at $12,553,000 after acquiring an additional 58,997 shares during the period. American Century Companies Inc. boosted its position in Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock worth $45,479,000 after purchasing an additional 230,291 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in Sylvamo in the second quarter worth about $2,024,000. Institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Performance

NYSE:SLVM opened at $87.18 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. The stock has a 50-day simple moving average of $74.93 and a two-hundred day simple moving average of $68.68. The firm has a market capitalization of $3.59 billion, a PE ratio of 18.59, a P/E/G ratio of 4.60 and a beta of 1.07. Sylvamo Co. has a 52-week low of $40.79 and a 52-week high of $87.18.

Sylvamo (NYSE:SLVM) last released its earnings results on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.40. The company had revenue of $933.00 million during the quarter, compared to analyst estimates of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. Analysts forecast that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio is currently 38.38%.

Wall Street Analysts Forecast Growth

SLVM has been the topic of several recent research reports. Royal Bank of Canada increased their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Bank of America reiterated a “neutral” rating and issued a $82.00 price target (up from $71.00) on shares of Sylvamo in a research report on Monday, August 12th.

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.