Squarepoint Ops LLC Increases Stake in Sylvamo Co. (NYSE:SLVM)

Squarepoint Ops LLC lifted its stake in Sylvamo Co. (NYSE:SLVM) by 188.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,094 shares of the company’s stock after buying an additional 13,117 shares during the quarter. Squarepoint Ops LLC’s holdings in Sylvamo were worth $1,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cibc World Markets Corp bought a new position in Sylvamo during the fourth quarter valued at approximately $2,456,000. Vanguard Group Inc. raised its holdings in shares of Sylvamo by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 2,692,101 shares of the company’s stock worth $132,209,000 after acquiring an additional 71,770 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Sylvamo during the 1st quarter valued at approximately $793,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Sylvamo in the first quarter valued at $4,208,000. Finally, Vest Financial LLC bought a new stake in Sylvamo in the first quarter worth $847,000. Institutional investors own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. Bank of America increased their price target on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd.

Sylvamo Price Performance

Sylvamo stock opened at $82.75 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $3.39 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 4.83 and a beta of 1.08. Sylvamo Co. has a 12-month low of $40.79 and a 12-month high of $88.42. The firm has a 50-day moving average price of $77.20 and a 200-day moving average price of $70.22.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate 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. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. As a group, equities research analysts forecast that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The business 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio is currently 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.