Thrivent Financial for Lutherans Sells 1,976 Shares of Sylvamo Co. (NYSE:SLVM)

Thrivent Financial for Lutherans trimmed its position in Sylvamo Co. (NYSE:SLVM) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,045 shares of the company’s stock after selling 1,976 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Sylvamo worth $2,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SLVM. Bank of Montreal Can raised its holdings in shares of Sylvamo by 2.8% in the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after buying an additional 154 shares during the last quarter. CWM LLC grew its position in shares of Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the period. GAMMA Investing LLC grew its position in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after purchasing an additional 171 shares during the period. SummerHaven Investment Management LLC boosted its position in 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 during the last quarter. Finally, Fortitude Family Office LLC boosted its position in Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after acquiring an additional 239 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLVM. Sidoti began coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock. Bank of America upped their target price 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. Finally, 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 report on Monday, August 12th.

Sylvamo Stock Down 3.4 %

SLVM stock opened at $91.26 on Thursday. The company has a fifty day moving average price of $86.14 and a 200 day moving average price of $76.98. Sylvamo Co. has a 12 month low of $44.94 and a 12 month high of $98.02. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 14.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13.

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

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.97%. Sylvamo’s dividend payout ratio is presently 27.99%.

About Sylvamo

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.