Sylvamo Co. (NYSE:SLVM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in shares of Sylvamo Co. (NYSE:SLVM) by 63.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,352 shares of the company’s stock after selling 152,819 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sylvamo were worth $7,499,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SLVM. Bank of Montreal Can boosted its position in shares of Sylvamo by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after buying an additional 154 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 171 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after purchasing an additional 239 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Sylvamo by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,688 shares of the company’s stock worth $1,351,000 after purchasing an additional 336 shares in the last quarter. Finally, Highland Capital Management LLC raised its position in shares of Sylvamo by 9.6% during the 3rd quarter. Highland Capital Management LLC now owns 3,950 shares of the company’s stock worth $339,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Up 0.8 %

Shares of NYSE SLVM opened at $78.45 on Wednesday. The firm’s 50 day moving average price is $85.60 and its 200 day moving average price is $80.29. 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 firm has a market cap of $3.22 billion, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 2.92 and a beta of 1.13. Sylvamo Co. has a 1 year low of $44.94 and a 1 year high of $98.02.

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

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Monday, January 6th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.29%. Sylvamo’s payout ratio is currently 27.99%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SLVM shares. Sidoti assumed coverage on Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock. Bank of America reaffirmed an “underperform” rating and set a $96.00 price objective 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.