Mutual of America Capital Management LLC Sells 566 Shares of Sylvamo Co. (NYSE:SLVM)

Mutual of America Capital Management LLC reduced its stake in Sylvamo Co. (NYSE:SLVM) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,180 shares of the company’s stock after selling 566 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Sylvamo were worth $445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after buying an additional 138,655 shares during the period. Quadrature Capital Ltd bought a new stake in Sylvamo during the first quarter valued at about $413,000. Lazard Asset Management LLC purchased a new position in shares of Sylvamo in the first quarter valued at about $45,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Sylvamo by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,815 shares of the company’s stock worth $1,286,000 after acquiring an additional 1,338 shares during the period. Finally, Comerica Bank grew its position in shares of Sylvamo by 19.5% during the first quarter. Comerica Bank now owns 19,719 shares of the company’s stock worth $1,217,000 after purchasing an additional 3,222 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Stock Performance

NYSE SLVM opened at $91.26 on Thursday. The business has a 50 day simple moving average of $86.14 and a two-hundred day simple moving average of $76.98. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The stock has a market capitalization of $3.74 billion, a PE ratio of 14.19 and a beta of 1.08.

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

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given 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 yield of 1.97%. Sylvamo’s dividend payout ratio is presently 27.99%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America boosted 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 upped their target price 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, Sidoti initiated coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price for the company.

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.