Sylvamo Co. (NYSE:SLVM) Stock Position Decreased by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of Sylvamo Co. (NYSE:SLVM) by 99.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,589 shares of the company’s stock after selling 899,677 shares during the quarter. SG Americas Securities LLC’s holdings in Sylvamo were worth $480,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC boosted its position in shares of Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares during the period. Independence Bank of Kentucky boosted its position in shares of Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares during the period. Fifth Third Bancorp boosted its position in shares of Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Sylvamo in the first quarter worth $45,000. Finally, Blue Trust Inc. boosted its position in shares of Sylvamo by 534.1% in the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after buying an additional 689 shares during the period. 91.16% of the stock is owned by institutional investors.

Sylvamo Price Performance

Shares of NYSE:SLVM opened at $86.28 on Thursday. Sylvamo Co. has a 1 year low of $41.47 and a 1 year high of $88.42. The business has a fifty day simple moving average of $79.28 and a 200 day simple moving average of $71.48. 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 cap of $3.55 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 4.84 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last posted its earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating 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 company had revenue of $933.00 million for the quarter, compared to analyst estimates of $937.56 million. During the same period last year, the company earned $1.14 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.09%. Sylvamo’s dividend payout ratio (DPR) is currently 38.38%.

Wall Street Analyst Weigh In

SLVM has been the subject of several recent analyst reports. Bank of America raised their target price on 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 increased their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Finally, Sidoti initiated coverage on Sylvamo in a report on Tuesday. They set a “buy” rating and a $100.00 price objective for the company.

Sylvamo 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.