GAMMA Investing LLC Purchases 171 Shares of Sylvamo Co. (NYSE:SLVM)

GAMMA Investing LLC raised its position in shares of Sylvamo Co. (NYSE:SLVM) by 59.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 461 shares of the company’s stock after purchasing an additional 171 shares during the period. GAMMA Investing LLC’s holdings in Sylvamo were worth $40,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SLVM. Bank of Montreal Can raised its holdings in shares of Sylvamo by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock valued at $389,000 after buying an additional 154 shares in the last quarter. CWM LLC raised its stake in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after acquiring an additional 157 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Sylvamo by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock worth $1,165,000 after acquiring an additional 216 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Sylvamo by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,688 shares of the company’s stock valued at $1,351,000 after purchasing an additional 336 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Sidoti initiated coverage on Sylvamo in a research note on Tuesday. They issued a “buy” rating and a $100.00 target price for the company. Finally, Bank of America raised their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd.

Sylvamo Price Performance

Shares of Sylvamo stock opened at $87.03 on Friday. The company’s fifty day simple moving average is $79.66 and its two-hundred day simple moving average is $71.58. Sylvamo Co. has a 12-month low of $41.47 and a 12-month high of $88.42. The firm has a market cap of $3.57 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 4.97 and a beta of 1.08. 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 posted its earnings results on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.40. The company had revenue of $933.00 million for 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%. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. As a group, equities analysts expect that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.07%. Sylvamo’s dividend payout ratio is presently 32.55%.

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.