Mutual of America Capital Management LLC Sells 566 Shares of Sylvamo Co. (NYSE:SLVM)

Mutual of America Capital Management LLC reduced its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 9.9% in the third quarter, Holdings Channel.com reports. The fund owned 5,180 shares of the company’s stock after selling 566 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Sylvamo were worth $445,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SLVM. CWM LLC lifted its holdings in Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares during the period. Fifth Third Bancorp raised its holdings in shares of Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after acquiring an additional 303 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after acquiring an additional 239 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Sylvamo by 59.0% during the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after acquiring an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SLVM. Royal Bank of Canada upped their target price on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Sidoti started coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Bank of America raised their target price 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

NYSE SLVM opened at $91.26 on Thursday. The stock’s fifty day moving average price is $86.14 and its 200 day moving average price is $76.98. Sylvamo Co. has a 1 year low of $44.94 and a 1 year high of $98.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 14.19 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.70 earnings per share. As a group, equities research analysts forecast that Sylvamo Co. will post 7.07 earnings per share for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.97%. Sylvamo’s dividend payout ratio (DPR) is presently 27.99%.

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.