Blue Trust Inc. Increases Stake in Sylvamo Co. (NYSE:SLVM)

Blue Trust Inc. increased its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 324.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,476 shares of the company’s stock after purchasing an additional 2,658 shares during the quarter. Blue Trust Inc.’s holdings in Sylvamo were worth $298,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can lifted 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 valued at $389,000 after buying an additional 154 shares during the last quarter. CWM LLC raised its position in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after acquiring an additional 157 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after buying an additional 171 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after buying an additional 216 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after buying an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Trading Up 3.0 %

NYSE:SLVM opened at $86.98 on Friday. Sylvamo Co. has a 12-month low of $41.77 and a 12-month high of $88.42. The firm has a market capitalization of $3.57 billion, a P/E ratio of 15.73, a P/E/G ratio of 4.49 and a beta of 1.08. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05. The business has a 50 day simple moving average of $80.40 and a 200 day simple moving average of $72.31.

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. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The company had revenue of $933.00 million during the quarter, compared to analyst estimates of $937.56 million. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is presently 32.55%.

Wall Street Analyst Weigh In

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

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.