Zurcher Kantonalbank Zurich Cantonalbank Cuts Holdings in Sylvamo Co. (NYSE:SLVM)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Sylvamo Co. (NYSE:SLVM) by 7.7% during the third quarter, Holdings Channel reports. The institutional investor owned 7,766 shares of the company’s stock after selling 650 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sylvamo were worth $667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Simplicity Wealth LLC boosted its position in shares of Sylvamo by 105.7% during the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock worth $974,000 after purchasing an additional 7,291 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Sylvamo by 80.4% in the second quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company’s stock valued at $1,590,000 after purchasing an additional 10,332 shares during the period. Summit Global Investments purchased a new stake in Sylvamo during the second quarter worth about $1,170,000. Citigroup Inc. grew its position in Sylvamo by 67.0% during the third quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock worth $3,994,000 after buying an additional 18,657 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Sylvamo by 6,693.0% during the 3rd quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock valued at $5,931,000 after acquiring an additional 68,068 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Price Performance

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

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. During the same quarter last year, the company earned $1.70 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts forecast that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Sidoti initiated coverage on Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target for the company. Finally, 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.

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.