Arizona State Retirement System Cuts Stake in Sylvamo Co. (NYSE:SLVM)

Arizona State Retirement System reduced its stake in shares of Sylvamo Co. (NYSE:SLVM) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,533 shares of the company’s stock after selling 374 shares during the quarter. Arizona State Retirement System’s holdings in Sylvamo were worth $517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SLVM. First Trust Advisors LP purchased a new stake in Sylvamo during the 1st quarter valued at approximately $69,597,000. Royal London Asset Management Ltd. grew its holdings in Sylvamo by 60.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,823,426 shares of the company’s stock valued at $80,167,000 after buying an additional 690,117 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Sylvamo by 111.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 751,717 shares of the company’s stock valued at $34,774,000 after buying an additional 396,375 shares in the last quarter. Norges Bank purchased a new stake in Sylvamo during the 4th quarter valued at approximately $18,292,000. Finally, Millennium Management LLC grew its holdings in Sylvamo by 182.5% during the 4th quarter. Millennium Management LLC now owns 402,370 shares of the company’s stock valued at $19,551,000 after buying an additional 259,940 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jeanmichel Ribieras sold 12,226 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $62.94, for a total value of $769,504.44. Following the completion of the sale, the chief executive officer now directly owns 144,501 shares in the company, valued at $9,094,892.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Peggy Maes sold 1,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $63.20, for a total value of $94,800.00. Following the completion of the sale, the senior vice president now directly owns 11,249 shares in the company, valued at $710,936.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeanmichel Ribieras sold 12,226 shares of Sylvamo stock in a transaction on Monday, March 11th. The stock was sold at an average price of $62.94, for a total value of $769,504.44. Following the sale, the chief executive officer now owns 144,501 shares of the company’s stock, valued at $9,094,892.94. The disclosure for this sale can be found here. Insiders sold a total of 26,951 shares of company stock worth $1,618,664 over the last three months. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 target price (up from $45.00) on shares of Sylvamo in a report on Monday, February 26th.

Sylvamo Trading Up 2.8 %

SLVM stock opened at $58.46 on Friday. The firm has a fifty day moving average price of $58.72 and a 200 day moving average price of $51.15. Sylvamo Co. has a fifty-two week low of $37.59 and a fifty-two week high of $64.32. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.72. The firm has a market cap of $2.42 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.33 and a beta of 1.10.

Sylvamo (NYSE:SLVM) last posted its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.34. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. The firm had revenue of $964.00 million during the quarter, compared to analyst estimates of $903.72 million. During the same period last year, the firm posted $1.97 earnings per share. Sylvamo’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that Sylvamo Co. will post 5.75 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 8th will be given a $0.30 dividend. The ex-dividend date is Friday, April 5th. This represents a $1.20 dividend on an annualized basis and a yield of 2.05%. Sylvamo’s dividend payout ratio is presently 20.27%.

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.