Sylvamo Co. (NYSE:SLVM) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its position in shares of Sylvamo Co. (NYSE:SLVM) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,600 shares of the company’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Sylvamo were worth $1,425,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of 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 acquiring an additional 154 shares in the last quarter. CWM LLC lifted its stake in Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC lifted its stake in Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after purchasing an additional 171 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Sylvamo by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after purchasing an additional 216 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after purchasing an additional 303 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on SLVM shares. Royal Bank of Canada increased their target price on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Sidoti started coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Bank of America upped 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.

Sylvamo Stock Down 0.0 %

Sylvamo stock opened at $85.00 on Friday. The firm has a market cap of $3.49 billion, a PE ratio of 15.37, a P/E/G ratio of 4.57 and a beta of 1.08. 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 moving average price is $81.58 and its two-hundred day moving average price is $73.50. Sylvamo Co. has a twelve month low of $43.94 and a twelve month high of $88.42.

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

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. Sylvamo’s dividend payout ratio (DPR) is 32.55%.

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.