State Street Corp Grows Holdings in Sylvamo Co. (NYSE:SLVM)

State Street Corp raised its holdings in Sylvamo Co. (NYSE:SLVM) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 1,407,303 shares of the company’s stock after buying an additional 12,181 shares during the period. State Street Corp’s holdings in Sylvamo were worth $120,817,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC grew its stake in shares of Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the last quarter. Blue Trust Inc. grew its position in Sylvamo by 534.1% in the 2nd quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $56,000 after buying an additional 689 shares during the last quarter. Summit Global Investments acquired a new position in Sylvamo in the 2nd quarter valued at $1,170,000. Fifth Third Bancorp raised its position in Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in shares of Sylvamo by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock worth $1,165,000 after acquiring an additional 216 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLVM has been the subject of a number of analyst reports. Bank of America reissued an “underperform” rating and set a $96.00 target price on shares of Sylvamo in a research note on Wednesday. Sidoti assumed coverage on Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 target price for the company.

Sylvamo Trading Down 1.6 %

Shares of SLVM stock opened at $87.77 on Friday. The stock has a market cap of $3.60 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.01 and a beta of 1.08. The business has a fifty day simple moving average of $87.78 and a 200-day simple moving average of $78.64. Sylvamo Co. has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. During the same period in the previous year, the firm posted $1.70 EPS. Sylvamo’s revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Sylvamo Co. will post 7.06 earnings per share for the current fiscal year.

Sylvamo 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.