Millennium Management LLC Grows Stock Position in Sylvamo Co. (NYSE:SLVM)

Millennium Management LLC boosted its stake in shares of Sylvamo Co. (NYSE:SLVM) by 10.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 345,944 shares of the company’s stock after buying an additional 31,360 shares during the quarter. Millennium Management LLC’s holdings in Sylvamo were worth $23,732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dark Forest Capital Management LP bought a new position in shares of Sylvamo during the second quarter valued at approximately $238,000. Caxton Associates LP bought a new stake in shares of Sylvamo during the 2nd quarter valued at about $1,282,000. Squarepoint Ops LLC boosted its stake in shares of Sylvamo by 188.0% during the 2nd quarter. Squarepoint Ops LLC now owns 20,094 shares of the company’s stock valued at $1,378,000 after purchasing an additional 13,117 shares in the last quarter. Bank of Montreal Can raised its stake in Sylvamo by 2.8% in the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after buying an additional 154 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Sylvamo by 6.3% in the second quarter. Public Sector Pension Investment Board now owns 76,959 shares of the company’s stock worth $5,279,000 after buying an additional 4,558 shares during the period. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Price Performance

Shares of SLVM opened at $81.21 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. The firm’s 50-day simple moving average is $77.06 and its two-hundred day simple moving average is $69.96. Sylvamo Co. has a fifty-two week low of $40.79 and a fifty-two week high of $88.42. The stock has a market cap of $3.34 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 5.00 and a beta of 1.08.

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

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is currently 38.38%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Bank of America upped their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd.

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.