EverSource Wealth Advisors LLC Buys 1,121 Shares of Sylvamo Co. (NYSE:SLVM)

EverSource Wealth Advisors LLC grew its stake in shares of Sylvamo Co. (NYSE:SLVM) by 795.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,262 shares of the company’s stock after buying an additional 1,121 shares during the period. EverSource Wealth Advisors LLC’s holdings in Sylvamo were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ProShare Advisors LLC raised its position in shares of Sylvamo by 52.5% during the second quarter. ProShare Advisors LLC now owns 10,996 shares of the company’s stock valued at $754,000 after buying an additional 3,785 shares during the last quarter. Sei Investments Co. raised its position in shares of Sylvamo by 44.9% during the second quarter. Sei Investments Co. now owns 45,550 shares of the company’s stock valued at $3,125,000 after buying an additional 14,107 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Sylvamo by 3.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 59,700 shares of the company’s stock valued at $4,095,000 after buying an additional 2,100 shares during the last quarter. AE Wealth Management LLC bought a new stake in Sylvamo in the second quarter worth $212,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Sylvamo during the second quarter valued at $226,000. Institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SLVM shares. Royal Bank of Canada upped their price target on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Bank of America upped their price target on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd.

Sylvamo Price Performance

Sylvamo stock opened at $84.76 on Friday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 5.01 and a beta of 1.07. The firm’s fifty day moving average is $76.23 and its 200 day moving average is $69.34. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. Sylvamo Co. has a 52-week low of $40.79 and a 52-week high of $88.42.

Sylvamo (NYSE:SLVM) last announced its earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts forecast that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio is currently 38.38%.

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.