Thrivent Financial for Lutherans Lowers Stock Position in Sylvamo Co. (NYSE:SLVM)

Thrivent Financial for Lutherans trimmed its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,021 shares of the company’s stock after selling 1,621 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Sylvamo worth $1,991,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SLVM. CWM LLC lifted its holdings in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after acquiring an additional 157 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after purchasing an additional 216 shares during the period. Fifth Third Bancorp boosted its holdings in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares in the last quarter. Texas Permanent School Fund Corp grew its position in Sylvamo by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after buying an additional 400 shares during the period. Finally, Independence Bank of Kentucky increased its holdings in Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SLVM shares. Bank of America upped their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada raised their price target 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 Trading Down 3.3 %

Shares of SLVM opened at $83.00 on Wednesday. Sylvamo Co. has a 1-year low of $40.79 and a 1-year high of $88.42. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $76.71 and a 200-day simple moving average of $69.80. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 5.00 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 28.83% and a net margin of 6.30%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 earnings per share. Equities analysts forecast that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, October 3rd. Sylvamo’s dividend payout ratio 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.