Truist Financial Corp Grows Stock Position in Sylvamo Co. (NYSE:SLVM)

Truist Financial Corp lifted its stake in Sylvamo Co. (NYSE:SLVM) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,078 shares of the company’s stock after buying an additional 815 shares during the period. Truist Financial Corp’s holdings in Sylvamo were worth $486,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after purchasing an additional 138,655 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sylvamo by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after purchasing an additional 62,157 shares in the last quarter. SG Americas Securities LLC bought a new position in Sylvamo in the 2nd quarter worth $62,101,000. American Century Companies Inc. boosted its holdings in Sylvamo by 53.2% in the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock worth $45,479,000 after buying an additional 230,291 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Sylvamo by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock worth $33,176,000 after buying an additional 1,779 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Trading Up 1.2 %

Shares of Sylvamo stock opened at $86.28 on Thursday. Sylvamo Co. has a fifty-two week low of $41.47 and a fifty-two week high of $88.42. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. The firm has a 50-day simple moving average of $79.28 and a two-hundred day simple moving average of $71.48. The company has a market cap of $3.55 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 4.84 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.40. The business had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. As a group, equities analysts predict that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

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 issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.09%. Sylvamo’s payout ratio is 38.38%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Sidoti assumed coverage on shares of Sylvamo in a report on Tuesday. They issued a “buy” rating and a $100.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. Finally, Bank of America raised their target price on shares of Sylvamo from $82.00 to $88.00 and gave the stock 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.