Fmr LLC Boosts Holdings in Sylvamo Co. (NYSE:SLVM)

Fmr LLC boosted its stake in shares of Sylvamo Co. (NYSE:SLVM) by 4.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 724,391 shares of the company’s stock after purchasing an additional 30,345 shares during the period. Fmr LLC’s holdings in Sylvamo were worth $62,189,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its holdings in Sylvamo by 83,084.0% during the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after acquiring an additional 2,301,427 shares during the period. Dimensional Fund Advisors LP boosted its position in Sylvamo by 5.0% in the 2nd 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 in the last quarter. American Century Companies Inc. grew its stake in shares of Sylvamo by 53.2% during the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock worth $45,479,000 after purchasing an additional 230,291 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Sylvamo by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock valued at $33,176,000 after purchasing an additional 1,779 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Sylvamo by 10.0% in the 2nd quarter. Millennium Management LLC now owns 345,944 shares of the company’s stock valued at $23,732,000 after purchasing an additional 31,360 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Performance

NYSE:SLVM opened at $90.53 on Friday. The company has a fifty day moving average of $87.02 and a two-hundred day moving average of $77.82. Sylvamo Co. has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. The stock has a market capitalization of $3.71 billion, a PE ratio of 14.08 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. During the same quarter in the prior year, the firm earned $1.70 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s dividend payout ratio is presently 27.99%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Bank of America raised their price target on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their target price on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. Finally, Sidoti began coverage on Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target on the 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.