Dark Forest Capital Management LP Invests $238,000 in Sylvamo Co. (NYSE:SLVM)

Dark Forest Capital Management LP purchased a new stake in shares of Sylvamo Co. (NYSE:SLVM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,471 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLVM. Vanguard Group Inc. boosted its holdings in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after acquiring an additional 138,655 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sylvamo by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after purchasing an additional 62,157 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sylvamo in the second quarter valued at $62,101,000. American Century Companies Inc. raised its holdings in shares of Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after buying an additional 230,291 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Sylvamo by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock worth $33,176,000 after buying an additional 1,779 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLVM shares. Royal Bank of Canada boosted their target price 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 boosted their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd.

Sylvamo Price Performance

Shares of SLVM stock opened at $84.74 on Monday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 5.01 and a beta of 1.07. Sylvamo Co. has a 12 month low of $40.79 and a 12 month high of $88.42. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. The stock has a 50-day moving average price of $76.23 and a 200 day moving average price of $69.44.

Sylvamo (NYSE:SLVM) last posted its quarterly 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 net margin of 6.30% and a return on equity of 28.83%. The business had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. During the same period in the previous year, the firm posted $1.14 earnings per share. Sylvamo’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts expect that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be given a $0.45 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. Sylvamo’s dividend payout ratio is currently 38.38%.

Sylvamo 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.