Renaissance Technologies LLC Trims Holdings in Sylvamo Co. (NYSE:SLVM)

Renaissance Technologies LLC lowered its holdings in Sylvamo Co. (NYSE:SLVM) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 145,600 shares of the company’s stock after selling 5,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.36% of Sylvamo worth $11,505,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SLVM. American Century Companies Inc. lifted its stake in Sylvamo by 15.2% in the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock worth $80,289,000 after acquiring an additional 134,066 shares during the period. Geode Capital Management LLC raised its holdings in Sylvamo by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 923,792 shares of the company’s stock worth $73,011,000 after purchasing an additional 7,795 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Sylvamo by 16.6% in the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company’s stock worth $40,139,000 after purchasing an additional 72,226 shares during the period. Invesco Ltd. boosted its stake in shares of Sylvamo by 27.5% during the 4th quarter. Invesco Ltd. now owns 375,231 shares of the company’s stock valued at $29,651,000 after purchasing an additional 80,895 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Sylvamo by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 182,662 shares of the company’s stock valued at $14,434,000 after purchasing an additional 7,194 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Price Performance

SLVM opened at $60.03 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The stock has a fifty day simple moving average of $66.71 and a two-hundred day simple moving average of $78.12. Sylvamo Co. has a 12-month low of $54.94 and a 12-month high of $98.02.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results 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 net margin of 7.96% and a return on equity of 34.72%. Research analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.00%. Sylvamo’s payout ratio is presently 24.97%.

Insider Transactions at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at $8,591,575.16. The trade was a 13.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Royal Bank of Canada decreased their price target on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th.

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.