Sylvamo Co. (NYSE:SLVM) Shares Sold by Rock Point Advisors LLC

Rock Point Advisors LLC lessened its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 45.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 28,582 shares of the company’s stock after selling 23,377 shares during the quarter. Rock Point Advisors LLC owned about 0.07% of Sylvamo worth $2,454,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SLVM. CWM LLC increased its stake in Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares during the period. Independence Bank of Kentucky raised its holdings in Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after purchasing an additional 404 shares in the last quarter. Fifth Third Bancorp lifted its position in Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after purchasing an additional 303 shares during the period. Fortitude Family Office LLC increased its position in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after purchasing an additional 239 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after buying an additional 171 shares during the period. Institutional investors own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Sidoti started coverage on shares of Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Royal Bank of Canada raised their target price on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Finally, Bank of America boosted their price target on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd.

Sylvamo Stock Down 3.1 %

Shares of NYSE:SLVM traded down $3.00 during midday trading on Tuesday, hitting $92.32. 18,809 shares of the stock were exchanged, compared to its average volume of 312,353. The business’s fifty day simple moving average is $85.61 and its two-hundred day simple moving average is $76.67. Sylvamo Co. has a 52-week low of $44.94 and a 52-week high of $98.02. The company has a market capitalization of $3.79 billion, a PE ratio of 14.83 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72.

Sylvamo (NYSE:SLVM) last posted its 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. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. As a group, research analysts predict that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a $0.45 dividend. 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 dividend payout ratio (DPR) is presently 27.99%.

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.