Sylvamo Co. (NYSE:SLVM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in Sylvamo Co. (NYSE:SLVM) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,116 shares of the company’s stock after selling 5,164 shares during the period. Victory Capital Management Inc. owned about 0.09% of Sylvamo worth $3,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SLVM. Russell Investments Group Ltd. grew its holdings in shares of Sylvamo by 2.4% during the first quarter. Russell Investments Group Ltd. now owns 23,403 shares of the company’s stock worth $1,445,000 after buying an additional 548 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Sylvamo by 22.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,704 shares of the company’s stock worth $784,000 after buying an additional 2,310 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 buying an additional 138,655 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Sylvamo by 9.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 15,973 shares of the company’s stock worth $986,000 after buying an additional 1,445 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Sylvamo during the first quarter worth $413,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $90.90 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The stock has a fifty day moving average price of $85.26 and a 200 day moving average price of $76.40. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a market cap of $3.73 billion, a PE ratio of 14.14 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last issued its earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. During the same period in the previous year, the firm earned $1.70 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Sylvamo Co. will post 7.07 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s payout ratio is 27.99%.

Analysts Set New Price Targets

SLVM has been the topic of several recent research reports. Royal Bank of Canada boosted their price target 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. Sidoti initiated coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Bank of America boosted their price target on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd.

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.