Independence Bank of Kentucky Purchases 404 Shares of Sylvamo Co. (NYSE:SLVM)

Independence Bank of Kentucky increased its position in Sylvamo Co. (NYSE:SLVM) by 6,733.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 410 shares of the company’s stock after purchasing an additional 404 shares during the quarter. Independence Bank of Kentucky’s holdings in Sylvamo were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CWM LLC grew its holdings in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares during the period. Fifth Third Bancorp raised its stake in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after buying an additional 303 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sylvamo in the first quarter worth $45,000. Blue Trust Inc. grew its stake in shares of Sylvamo by 534.1% in the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after acquiring an additional 689 shares during the last quarter. Finally, Wedmont Private Capital bought a new position in shares of Sylvamo during the second quarter valued at $208,000. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Stock Up 2.8 %

Shares of SLVM stock traded up $2.15 during mid-day trading on Friday, hitting $78.92. The company’s stock had a trading volume of 187,615 shares, compared to its average volume of 319,726. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. Sylvamo Co. has a 52-week low of $38.94 and a 52-week high of $79.82. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 4.52 and a beta of 1.07. The business has a 50-day moving average price of $71.11 and a 200 day moving average price of $65.39.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business had revenue of $933.00 million during the quarter, compared to analyst estimates of $937.56 million. During the same quarter in the previous year, the firm earned $1.14 EPS. Sylvamo’s revenue was up 1.5% on a year-over-year basis. Research analysts predict that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SLVM shares. Royal Bank of Canada upped their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Bank of America reiterated a “neutral” rating and issued a $82.00 target price (up previously from $71.00) on shares of Sylvamo in a research note on Monday, August 12th.

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.