Sylvamo Co. (NYSE:SLVM) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in Sylvamo Co. (NYSE:SLVM) by 11.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,453 shares of the company’s stock after purchasing an additional 349 shares during the quarter. Wedmont Private Capital’s holdings in Sylvamo were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after acquiring an additional 138,655 shares during the last quarter. Simplicity Wealth LLC increased its position in shares of Sylvamo by 105.7% in the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after acquiring an additional 7,291 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Sylvamo in the first quarter worth about $586,000. Jupiter Asset Management Ltd. boosted its position in Sylvamo by 30.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 123,993 shares of the company’s stock worth $7,655,000 after purchasing an additional 28,763 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Sylvamo during the 1st quarter worth approximately $4,208,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLVM has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Bank of America raised their target price on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd.

Sylvamo Trading Up 2.0 %

Shares of NYSE:SLVM opened at $83.70 on Friday. The business’s 50 day moving average price is $78.14 and its 200-day moving average price is $70.98. Sylvamo Co. has a 1 year low of $40.79 and a 1 year high of $88.42. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 4.83 and a beta of 1.08. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) 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 period last year, the firm posted $1.14 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.15%. Sylvamo’s dividend payout ratio (DPR) is currently 38.38%.

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.