AQR Capital Management LLC Cuts Stock Holdings in Sylvamo Co. (NYSE:SLVM)

AQR Capital Management LLC cut its stake in Sylvamo Co. (NYSE:SLVM) by 38.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,556 shares of the company’s stock after selling 10,865 shares during the period. AQR Capital Management LLC’s holdings in Sylvamo were worth $1,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after purchasing an additional 138,655 shares in the last quarter. Simplicity Wealth LLC increased its holdings in shares of Sylvamo by 105.7% in the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after acquiring an additional 7,291 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Sylvamo during the 1st quarter worth about $586,000. Jupiter Asset Management Ltd. lifted its stake in Sylvamo by 30.2% during the first quarter. Jupiter Asset Management Ltd. now owns 123,993 shares of the company’s stock worth $7,655,000 after purchasing an additional 28,763 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Sylvamo in the first quarter valued at approximately $4,208,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $83.70 on Friday. The stock has a market cap of $3.44 billion, a P/E ratio of 17.85, a P/E/G ratio of 4.83 and a beta of 1.08. Sylvamo Co. has a twelve month low of $40.79 and a twelve month high of $88.42. The stock has a 50 day moving average of $78.14 and a two-hundred day moving average of $70.91. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

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 analysts’ consensus estimates of $1.58 by $0.40. The firm had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. Sylvamo’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. On average, research analysts forecast that Sylvamo Co. will post 7.4 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 3rd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is presently 38.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SLVM. Bank of America boosted their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada upped their price objective on shares of 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.