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

Geode Capital Management LLC lifted its stake in Sylvamo Co. (NYSE:SLVM) by 3.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 915,997 shares of the company’s stock after buying an additional 27,859 shares during the quarter. Geode Capital Management LLC’s holdings in Sylvamo were worth $78,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC grew its position in shares of Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after acquiring an additional 157 shares during the period. Independence Bank of Kentucky grew its holdings in Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after purchasing an additional 404 shares during the period. 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. Fortitude Family Office LLC raised its stake in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after buying an additional 239 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Sylvamo by 59.0% during the 3rd 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. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Trading Up 2.5 %

Shares of SLVM stock opened at $81.09 on Friday. Sylvamo Co. has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. 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 stock’s fifty day moving average is $87.82 and its two-hundred day moving average is $79.00. The firm has a market capitalization of $3.33 billion, a P/E ratio of 12.61, a PEG ratio of 2.92 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $1.70 earnings per share. Research analysts expect that Sylvamo Co. will post 7.15 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Monday, January 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.22%. The ex-dividend date is Monday, January 6th. Sylvamo’s payout ratio is currently 27.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SLVM shares. Sidoti began coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company. Bank of America reaffirmed an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research note on Wednesday, December 11th.

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.