Sylvamo Co. (NYSE:SLVM) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its position in shares of Sylvamo Co. (NYSE:SLVM) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,059 shares of the company’s stock after selling 3,900 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.18% of Sylvamo worth $6,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in Sylvamo in the 1st quarter valued at about $45,000. Price T Rowe Associates Inc. MD grew its position in Sylvamo by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,815 shares of the company’s stock worth $1,286,000 after acquiring an additional 1,338 shares during the period. Comerica Bank increased its stake in Sylvamo by 19.5% during the first quarter. Comerica Bank now owns 19,719 shares of the company’s stock worth $1,217,000 after acquiring an additional 3,222 shares during the last quarter. CWM LLC raised its position in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the period. Finally, Simplicity Wealth LLC lifted its stake 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 purchasing an additional 7,291 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Up 1.1 %

Shares of SLVM opened at $92.29 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. The stock has a market capitalization of $3.78 billion, a PE ratio of 14.35 and a beta of 1.08. The company’s 50-day simple moving average is $86.44 and its 200-day simple moving average is $77.30. Sylvamo Co. has a 1 year low of $44.94 and a 1 year high of $98.02.

Sylvamo (NYSE:SLVM) last released its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.70 EPS. Analysts forecast that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.95%. Sylvamo’s payout ratio is 27.99%.

Analysts Set New Price Targets

Several analysts recently issued reports on SLVM shares. Royal Bank of Canada boosted their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Sidoti assumed coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Bank of America boosted 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 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.