Fortitude Family Office LLC Grows Position in Sylvamo Co. (NYSE:SLVM)

Fortitude Family Office LLC increased its holdings in Sylvamo Co. (NYSE:SLVM) by 116.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 444 shares of the company’s stock after acquiring an additional 239 shares during the quarter. Fortitude Family Office LLC’s holdings in Sylvamo were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. CWM LLC raised its holdings in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares in the last quarter. Independence Bank of Kentucky raised its holdings in Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after purchasing an additional 404 shares in the last quarter. Fifth Third Bancorp raised its holdings in Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after purchasing an additional 303 shares in the last quarter. GAMMA Investing LLC raised its holdings in Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after purchasing an additional 171 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in Sylvamo in the first quarter worth about $45,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Trading Up 0.4 %

Sylvamo stock opened at $85.48 on Thursday. Sylvamo Co. has a 12 month low of $43.94 and a 12 month high of $88.42. The firm has a market cap of $3.50 billion, a PE ratio of 15.46, a P/E/G ratio of 4.55 and a beta of 1.08. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The stock’s 50 day simple moving average is $81.29 and its two-hundred day simple moving average is $73.22.

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

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.11%. Sylvamo’s payout ratio is currently 32.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada boosted their target price 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. Sidoti began coverage on shares of Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Bank of America increased their price target on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd.

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.