Sylvamo Co. (NYSE:SLVM) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 1.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,210 shares of the company’s stock after selling 142 shares during the period. Commonwealth Equity Services LLC’s holdings in Sylvamo were worth $563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SLVM. Dimensional Fund Advisors LP grew its holdings in Sylvamo by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock valued at $56,406,000 after purchasing an additional 79,778 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Sylvamo in the 4th quarter worth $605,000. Norges Bank acquired a new position in Sylvamo during the fourth quarter worth $10,206,000. Assetmark Inc. lifted its holdings in Sylvamo by 5.2% during the fourth quarter. Assetmark Inc. now owns 43,063 shares of the company’s stock valued at $2,115,000 after purchasing an additional 2,114 shares in the last quarter. Finally, Chesapeake Capital Corp IL acquired a new stake in shares of Sylvamo in the fourth quarter valued at about $969,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $86.77 on Friday. The firm has a 50-day simple moving average of $74.93 and a 200-day simple moving average of $68.56. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 4.60 and a beta of 1.07. Sylvamo Co. has a 52 week low of $40.79 and a 52 week high of $87.18.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, August 9th. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.40. The company had revenue of $933.00 million during 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, equities analysts predict that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is currently 38.38%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America restated a “neutral” rating and set a $82.00 price target (up previously from $71.00) on shares of Sylvamo in a research report on Monday, August 12th. Royal Bank of Canada raised their target price on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th.

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.