Sylvamo Co. (NYSE:SLVM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,306 shares of the company’s stock after selling 12,262 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.23% of Sylvamo worth $7,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Sylvamo by 83,084.0% during the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after purchasing an additional 2,301,427 shares during the last quarter. State Street Corp lifted its stake in Sylvamo by 0.9% in the third quarter. State Street Corp now owns 1,407,303 shares of the company’s stock valued at $120,817,000 after buying an additional 12,181 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Sylvamo by 3.1% in the third quarter. Geode Capital Management LLC now owns 915,997 shares of the company’s stock valued at $78,652,000 after purchasing an additional 27,859 shares during the period. FMR LLC increased its holdings in shares of Sylvamo by 4.4% in the third quarter. FMR LLC now owns 724,391 shares of the company’s stock valued at $62,189,000 after purchasing an additional 30,345 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Sylvamo by 6,693.0% during the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock worth $5,931,000 after acquiring an additional 68,068 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLVM. Bank of America reissued an “underperform” rating and issued a $96.00 target price on shares of Sylvamo in a report on Wednesday, December 11th. Royal Bank of Canada reduced their price objective on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th.

Sylvamo Trading Down 2.2 %

NYSE:SLVM opened at $71.27 on Thursday. 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 business’s 50 day moving average is $78.93 and its two-hundred day moving average is $81.49. Sylvamo Co. has a 52 week low of $54.55 and a 52 week high of $98.02. The company has a market cap of $2.92 billion, a PE ratio of 9.89, a P/E/G ratio of 2.31 and a beta of 1.12.

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

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Monday, January 6th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Monday, January 6th. Sylvamo’s dividend payout ratio (DPR) is presently 24.97%.

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.