Jane Street Group LLC Lowers Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Jane Street Group LLC lessened its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 94.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,168 shares of the company’s stock after selling 166,800 shares during the quarter. Jane Street Group LLC’s holdings in Sylvamo were worth $787,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SLVM. Rhumbline Advisers lifted its position in Sylvamo by 2.3% during the second quarter. Rhumbline Advisers now owns 110,301 shares of the company’s stock worth $7,567,000 after buying an additional 2,462 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Sylvamo by 80.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company’s stock valued at $1,590,000 after acquiring an additional 10,332 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Sylvamo during the 2nd quarter worth about $9,997,000. ClariVest Asset Management LLC acquired a new stake in shares of Sylvamo in the second quarter worth approximately $2,024,000. Finally, American Century Companies Inc. grew its holdings in Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after purchasing an additional 230,291 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

SLVM has been the topic of a number of recent analyst reports. Bank of America reaffirmed an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a research note on Wednesday, December 11th. Sidoti started coverage on Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 target price on the stock.

Sylvamo Stock Up 0.4 %

Shares of NYSE:SLVM opened at $79.33 on Friday. The stock has a 50-day simple moving average of $87.04 and a 200-day simple moving average of $79.63. The stock has a market capitalization of $3.25 billion, a P/E ratio of 12.34, a PEG ratio of 2.92 and a beta of 1.08. Sylvamo Co. has a 1 year low of $44.94 and a 1 year 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.

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

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Monday, January 6th will be issued a $0.45 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.80 annualized dividend and a yield of 2.27%. Sylvamo’s dividend payout ratio is currently 27.99%.

Sylvamo Company 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.