Louisiana State Employees Retirement System raised its position in Sylvamo Co. (NYSE:SLVM – Free Report) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,800 shares of the company’s stock after acquiring an additional 1,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Sylvamo were worth $680,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in shares of Sylvamo by 2.7% during the 1st quarter. Arizona State Retirement System now owns 11,507 shares of the company’s stock worth $532,000 after buying an additional 301 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Sylvamo by 6.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,205 shares of the company’s stock worth $252,000 after purchasing an additional 306 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Sylvamo by 1.4% in the 1st quarter. SummerHaven Investment Management LLC now owns 26,251 shares of the company’s stock worth $1,214,000 after purchasing an additional 365 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Sylvamo by 2.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,510 shares of the company’s stock worth $717,000 after purchasing an additional 381 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in Sylvamo by 5.2% in the 1st quarter. Harbour Capital Advisors LLC now owns 8,689 shares of the company’s stock worth $402,000 after purchasing an additional 430 shares in the last quarter. Institutional investors and hedge funds own 89.05% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on SLVM. Bank of America upgraded shares of Sylvamo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $61.00 in a research note on Monday, July 10th. Royal Bank of Canada lowered shares of Sylvamo from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $55.00 to $44.00 in a report on Thursday, August 10th.
Sylvamo Trading Up 0.4 %
Shares of Sylvamo stock opened at $42.44 on Wednesday. The firm has a market capitalization of $1.78 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 0.23 and a beta of 1.05. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average is $42.12 and its 200 day moving average is $43.12. Sylvamo Co. has a 1 year low of $37.59 and a 1 year high of $57.38.
Sylvamo (NYSE:SLVM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.87% and a return on equity of 55.02%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. Equities research analysts forecast that Sylvamo Co. will post 5.95 earnings per share for the current fiscal year.
Sylvamo Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Tuesday, October 3rd will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, October 2nd. This is a positive change from Sylvamo’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.83%. Sylvamo’s payout ratio is 17.65%.
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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