Maryland State Retirement & Pension System lowered its position in shares of Sylvamo Co. (NYSE:SLVM – Free Report) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,437 shares of the company’s stock after selling 429 shares during the period. Maryland State Retirement & Pension System’s holdings in Sylvamo were worth $503,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SLVM. Federated Hermes Inc. acquired a new stake in shares of Sylvamo during the first quarter worth about $25,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Sylvamo during the first quarter worth about $26,000. International Assets Investment Management LLC acquired a new position in Sylvamo in the 1st quarter valued at about $29,000. Quadrant Capital Group LLC increased its position in Sylvamo by 308.3% in the 4th quarter. Quadrant Capital Group LLC now owns 837 shares of the company’s stock valued at $41,000 after acquiring an additional 632 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Sylvamo by 389.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 975 shares of the company’s stock valued at $45,000 after acquiring an additional 776 shares during the period. Institutional investors and hedge funds own 89.05% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Bank of America upgraded Sylvamo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $52.00 to $61.00 in a research report on Monday, July 10th. Royal Bank of Canada cut Sylvamo from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $55.00 to $44.00 in a research report on Thursday, August 10th.
Check Out Our Latest Stock Report on Sylvamo
Sylvamo Stock Performance
Shares of SLVM stock opened at $43.41 on Thursday. Sylvamo Co. has a 52-week low of $33.53 and a 52-week high of $57.38. The stock’s 50-day moving average price is $42.95 and its 200 day moving average price is $43.37. The stock has a market capitalization of $1.82 billion, a PE ratio of 6.38, a price-to-earnings-growth ratio of 0.24 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 1.11.
Sylvamo (NYSE:SLVM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.17. The company had revenue of $919.00 million for the quarter, compared to analyst estimates of $950.84 million. Sylvamo had a return on equity of 55.02% and a net margin of 7.87%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.02 EPS. As a group, equities research analysts forecast that Sylvamo Co. will post 5.95 EPS for the current year.
Sylvamo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd will be paid a dividend of $0.30 per share. This is a positive change from Sylvamo’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.20 annualized dividend and a dividend yield of 2.76%. Sylvamo’s payout ratio is 14.71%.
Sylvamo Company Profile
Sylvamo Corporation produces and markets uncoated freesheet, 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 high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.
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