Sylvamo Co. (NYSE:SLVM) Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Sylvamo Co. (NYSE:SLVM) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,930 shares of the company’s stock after selling 17,398 shares during the period. Pictet Asset Management Holding SA owned approximately 0.95% of Sylvamo worth $30,812,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tidal Investments LLC raised its position in Sylvamo by 150.9% in the third quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock worth $1,929,000 after acquiring an additional 13,512 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Sylvamo by 473.5% in the 3rd quarter. HighTower Advisors LLC now owns 18,467 shares of the company’s stock worth $1,587,000 after purchasing an additional 15,247 shares in the last quarter. Citigroup Inc. lifted its stake in Sylvamo by 67.0% during the third quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock valued at $3,994,000 after purchasing an additional 18,657 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after buying an additional 201 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Sylvamo by 224.6% in the fourth quarter. Blue Trust Inc. now owns 11,284 shares of the company’s stock worth $969,000 after buying an additional 7,808 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLVM. Bank of America reissued an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th. Royal Bank of Canada dropped their price target on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th.

Sylvamo Price Performance

Shares of NYSE:SLVM opened at $67.28 on Monday. The company’s fifty day moving average is $71.86 and its two-hundred day moving average is $80.06. The company has a market cap of $2.73 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. Sylvamo Co. has a 12-month low of $56.35 and a 12-month high of $98.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Equities analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s payout ratio is presently 24.97%.

Insider Buying and Selling at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction on Monday, March 17th. The stock was sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the sale, the chief executive officer now owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. This trade represents a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

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.