Perigon Wealth Management LLC Has $706,000 Stake in Sylvamo Co. (NYSE:SLVM)

Perigon Wealth Management LLC reduced its stake in Sylvamo Co. (NYSE:SLVM) by 20.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,910 shares of the company’s stock after selling 2,349 shares during the period. Perigon Wealth Management LLC’s holdings in Sylvamo were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fortitude Family Office LLC boosted its position in Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after buying an additional 239 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Sylvamo by 59.0% during the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after acquiring an additional 171 shares in the last quarter. Fifth Third Bancorp grew its position in Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock worth $58,000 after acquiring an additional 214 shares during the last quarter. LRI Investments LLC increased its holdings in Sylvamo by 4,825.0% in the 3rd quarter. LRI Investments LLC now owns 788 shares of the company’s stock worth $66,000 after purchasing an additional 772 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Sylvamo in the third quarter valued at about $82,000. 91.16% of the stock is owned by institutional investors.

Sylvamo Trading Down 1.4 %

NYSE SLVM opened at $80.05 on Friday. Sylvamo Co. has a 12 month low of $44.94 and a 12 month high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.28 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. The business’s 50-day moving average price is $83.51 and its two-hundred day moving average price is $81.17.

Sylvamo (NYSE:SLVM) last released its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. During the same quarter in the prior year, the firm posted $1.70 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts expect that Sylvamo Co. will post 7.15 EPS for the current year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Monday, January 6th were given a dividend of $0.45 per share. The ex-dividend date was Monday, January 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.25%. Sylvamo’s dividend payout ratio (DPR) is currently 27.99%.

Wall Street Analyst Weigh In

SLVM has been the subject of several recent research reports. Bank of America reaffirmed an “underperform” rating and issued a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th. Sidoti assumed coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company.

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.