Royal London Asset Management Ltd. Sells 177,497 Shares of Sylvamo Co. (NYSE:SLVM)

Royal London Asset Management Ltd. trimmed its stake in Sylvamo Co. (NYSE:SLVM) by 10.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,469,790 shares of the company’s stock after selling 177,497 shares during the period. Royal London Asset Management Ltd.’s holdings in Sylvamo were worth $116,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quest Partners LLC purchased a new position in Sylvamo in the third quarter valued at approximately $760,000. Intech Investment Management LLC bought a new stake in shares of Sylvamo in the third quarter valued at $1,633,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Sylvamo during the 3rd quarter valued at $3,046,000. Pacer Advisors Inc. grew its stake in shares of Sylvamo by 83,084.0% during the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after acquiring an additional 2,301,427 shares during the period. Finally, Citigroup Inc. increased its holdings in Sylvamo by 67.0% in the 3rd quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock worth $3,994,000 after acquiring an additional 18,657 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

Sylvamo Stock Performance

NYSE:SLVM opened at $66.49 on Thursday. The business’s fifty day moving average is $73.46 and its 200 day moving average is $80.46. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. Sylvamo Co. has a 52-week low of $56.35 and a 52-week high of $98.02.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Research analysts predict that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.71%. Sylvamo’s dividend payout ratio (DPR) is currently 24.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America reaffirmed an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a report on Wednesday, December 11th. Royal Bank of Canada dropped their price target on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th.

Insider Transactions at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the sale, the chief executive officer now owns 131,894 shares of the company’s stock, valued at $8,591,575.16. This trade represents a 13.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.75% of the company’s stock.

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.