Handelsbanken Fonder AB Boosts Holdings in Sylvamo Co. (NYSE:SLVM)

Handelsbanken Fonder AB raised its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,600 shares of the company’s stock after buying an additional 300 shares during the period. Handelsbanken Fonder AB’s holdings in Sylvamo were worth $363,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Convergence Investment Partners LLC lifted its position in Sylvamo by 25.6% during the fourth quarter. Convergence Investment Partners LLC now owns 14,260 shares of the company’s stock valued at $1,127,000 after purchasing an additional 2,904 shares in the last quarter. Principal Financial Group Inc. raised its stake in Sylvamo by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 182,662 shares of the company’s stock worth $14,434,000 after acquiring an additional 7,194 shares during the period. Savant Capital LLC lifted its holdings in Sylvamo by 38.6% in the 4th quarter. Savant Capital LLC now owns 7,671 shares of the company’s stock worth $606,000 after purchasing an additional 2,138 shares in the last quarter. Empowered Funds LLC bought a new position in Sylvamo in the 4th quarter worth approximately $1,199,000. Finally, Vest Financial LLC boosted its holdings in shares of Sylvamo by 75.0% during the 4th quarter. Vest Financial LLC now owns 30,537 shares of the company’s stock valued at $2,413,000 after purchasing an additional 13,086 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SLVM has been the topic of several research reports. Royal Bank of Canada reduced their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Bank of America reiterated an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th.

Sylvamo Stock Performance

Shares of NYSE:SLVM opened at $69.02 on Tuesday. The firm has a 50 day moving average of $76.61 and a 200 day moving average of $81.43. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 2.23 and a beta of 1.12. Sylvamo Co. has a 52 week low of $56.20 and a 52 week high of $98.02.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. On average, sell-side analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.61%. Sylvamo’s dividend payout ratio (DPR) is currently 24.97%.

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.