Renaissance Technologies LLC Has $12.70 Million Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Renaissance Technologies LLC decreased its stake in shares of Sylvamo Co. (NYSE:SLVM) by 14.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,100 shares of the company’s stock after selling 31,600 shares during the quarter. Renaissance Technologies LLC owned about 0.45% of Sylvamo worth $12,698,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLVM. SG Americas Securities LLC bought a new position in shares of Sylvamo in the second quarter valued at $62,101,000. American Century Companies Inc. grew its position in shares of Sylvamo by 53.2% in the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after acquiring an additional 230,291 shares during the period. Norges Bank bought a new position in shares of Sylvamo in the 4th quarter valued at about $10,206,000. Acadian Asset Management LLC acquired a new position in shares of Sylvamo during the 2nd quarter worth about $9,997,000. Finally, Vanguard Group Inc. raised its holdings in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after purchasing an additional 138,655 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Bank of America reiterated a “neutral” rating and set a $82.00 target price (up from $71.00) on shares of Sylvamo in a research note on Monday, August 12th.

Sylvamo Stock Performance

Shares of SLVM stock opened at $87.18 on Monday. Sylvamo Co. has a 52 week low of $40.79 and a 52 week high of $87.18. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 4.60 and a beta of 1.07. The company has a 50-day simple moving average of $74.93 and a 200 day simple moving average of $68.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. The company had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, sell-side analysts predict that Sylvamo Co. will post 7.4 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, October 3rd. Sylvamo’s payout ratio is 38.38%.

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.