State of New Jersey Common Pension Fund D Has $1.83 Million Stock Holdings in Sylvamo Co. (NYSE:SLVM)

State of New Jersey Common Pension Fund D cut its position in Sylvamo Co. (NYSE:SLVM) by 44.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,707 shares of the company’s stock after selling 21,389 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Sylvamo worth $1,832,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. CWM LLC grew its stake in shares of Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Sylvamo by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after buying an additional 216 shares during the period. Fifth Third Bancorp grew its stake in shares of Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after buying an additional 303 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Sylvamo by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock valued at $1,909,000 after buying an additional 400 shares during the period. Finally, Independence Bank of Kentucky boosted its stake in Sylvamo by 6,733.3% during the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after purchasing an additional 404 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $82.85 on Tuesday. Sylvamo Co. has a twelve month low of $40.79 and a twelve month high of $88.42. The stock’s 50 day moving average price is $75.21 and its 200-day moving average price is $68.83. The company has a market capitalization of $3.41 billion, a PE ratio of 17.67, a PEG ratio of 4.60 and a beta of 1.07. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08.

Sylvamo (NYSE:SLVM) last announced its earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The firm had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.17%. Sylvamo’s payout ratio is presently 38.38%.

Analyst Ratings Changes

A number of equities analysts have issued reports on SLVM shares. Bank of America lifted their price target on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday. Royal Bank of Canada lifted their price target on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th.

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.