Sylvamo Co. (NYSE:SLVM) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its stake in Sylvamo Co. (NYSE:SLVM) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,335 shares of the company’s stock after selling 862 shares during the quarter. Bleakley Financial Group LLC’s holdings in Sylvamo were worth $1,145,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in Sylvamo by 5.2% in the 1st 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 during the last quarter. Dimensional Fund Advisors LP grew its position in Sylvamo by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after buying an additional 62,157 shares during the last quarter. SG Americas Securities LLC acquired a new position in Sylvamo in the second quarter worth approximately $62,101,000. American Century Companies Inc. grew its position in Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock worth $45,479,000 after buying an additional 230,291 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Sylvamo by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock worth $33,176,000 after buying an additional 1,779 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Sidoti assumed coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective for the company. Royal Bank of Canada raised their price objective 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. Finally, Bank of America raised their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd.

Sylvamo Trading Down 0.9 %

Shares of NYSE:SLVM opened at $86.20 on Monday. The firm has a fifty day moving average of $79.87 and a two-hundred day moving average of $71.89. The firm has a market capitalization of $3.55 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 4.97 and a beta of 1.08. Sylvamo Co. has a 12-month low of $41.47 and a 12-month high of $88.42. 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 released its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.40. The business had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. Sylvamo’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. On average, equities analysts expect that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.09%. Sylvamo’s dividend payout ratio (DPR) is presently 38.38%.

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.