International Assets Investment Management LLC Grows Stake in Sylvamo Co. (NYSE:SLVM)

International Assets Investment Management LLC grew its holdings in Sylvamo Co. (NYSE:SLVM) by 6,693.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 69,085 shares of the company’s stock after acquiring an additional 68,068 shares during the quarter. International Assets Investment Management LLC’s holdings in Sylvamo were worth $5,931,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after acquiring an additional 138,655 shares during the last quarter. Simplicity Wealth LLC increased its holdings in shares of Sylvamo by 105.7% in the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after acquiring an additional 7,291 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Sylvamo in the 1st quarter valued at about $586,000. Jupiter Asset Management Ltd. increased its holdings in shares of Sylvamo by 30.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 123,993 shares of the company’s stock valued at $7,655,000 after acquiring an additional 28,763 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Sylvamo by 33.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,156 shares of the company’s stock valued at $2,104,000 after acquiring an additional 8,503 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Down 0.5 %

Shares of NYSE SLVM opened at $85.02 on Friday. The stock has a market cap of $3.49 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 4.55 and a beta of 1.08. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. Sylvamo Co. has a 52-week low of $43.94 and a 52-week high of $88.42. The business has a 50-day moving average price of $81.46 and a 200 day moving average price of $73.31.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share 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 analysts’ expectations of $937.56 million. During the same period last year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts forecast that Sylvamo Co. will post 7.4 earnings per share for the current year.

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.12%. Sylvamo’s payout ratio is 32.55%.

Analyst Upgrades and Downgrades

SLVM has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Sidoti began coverage on Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Bank of America upped their target price on Sylvamo from $82.00 to $88.00 and gave the company 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.