Ritholtz Wealth Management Makes New $575,000 Investment in Sylvamo Co. (NYSE:SLVM)

Ritholtz Wealth Management purchased a new stake in Sylvamo Co. (NYSE:SLVM) during the third quarter, Holdings Channel.com reports. The firm purchased 6,696 shares of the company’s stock, valued at approximately $575,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SLVM. CWM LLC boosted its position in Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Sylvamo by 6,733.3% in the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after buying an additional 171 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Sylvamo during the 1st quarter worth approximately $45,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Trading Up 1.3 %

NYSE:SLVM opened at $85.36 on Wednesday. The company has a market capitalization of $3.51 billion, a P/E ratio of 18.20, a PEG ratio of 4.84 and a beta of 1.08. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. Sylvamo Co. has a 12 month low of $41.47 and a 12 month high of $88.42. The firm has a fifty day simple moving average of $78.87 and a 200-day simple moving average of $71.37.

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

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 3rd will be issued a $0.45 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.11%. Sylvamo’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLVM. Bank of America lifted their price target on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada boosted their target price on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Finally, Sidoti assumed coverage on Sylvamo in a research note on Tuesday. 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.