PNC Financial Services Group Inc. Sells 320 Shares of Sylvamo Co. (NYSE:SLVM)

PNC Financial Services Group Inc. lowered its position in Sylvamo Co. (NYSE:SLVM) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,038 shares of the company’s stock after selling 320 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sylvamo were worth $346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Sylvamo by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 2,692,101 shares of the company’s stock valued at $132,209,000 after purchasing an additional 71,770 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of Sylvamo by 60.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,823,426 shares of the company’s stock valued at $80,167,000 after acquiring an additional 690,117 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Sylvamo by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock worth $56,406,000 after acquiring an additional 79,778 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Sylvamo by 1.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 399,920 shares of the company’s stock worth $17,572,000 after purchasing an additional 6,785 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Sylvamo by 34.9% during the third quarter. American Century Companies Inc. now owns 372,185 shares of the company’s stock valued at $16,354,000 after purchasing an additional 96,364 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their price target on shares of Sylvamo from $56.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, May 13th.

Sylvamo Stock Up 0.3 %

Sylvamo stock opened at $68.60 on Friday. The business has a fifty day moving average price of $68.13 and a 200-day moving average price of $58.82. Sylvamo Co. has a 1-year low of $37.59 and a 1-year high of $72.48. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.09.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, May 10th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. The business had revenue of $905.00 million for the quarter, compared to analyst estimates of $864.38 million. Sylvamo had a return on equity of 24.67% and a net margin of 5.40%. The company’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.51 earnings per share. Equities research analysts forecast that Sylvamo Co. will post 6.75 EPS for the current fiscal year.

Sylvamo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Monday, July 8th will be paid a dividend of $0.45 per share. This is an increase from Sylvamo’s previous quarterly dividend of $0.30. This represents a $1.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Monday, July 8th. Sylvamo’s payout ratio is presently 25.59%.

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.