Royce & Associates LP Decreases Stake in Sylvamo Co. (NYSE:SLVM)

Royce & Associates LP lowered its position in shares of Sylvamo Co. (NYSE:SLVM) by 19.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 349,293 shares of the company’s stock after selling 82,252 shares during the quarter. Royce & Associates LP’s holdings in Sylvamo were worth $29,987,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Sylvamo by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after purchasing an additional 154 shares during the period. CWM LLC grew its holdings in shares of Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares during the period. GAMMA Investing LLC grew its holdings in shares of Sylvamo by 59.0% during the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after purchasing an additional 171 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Sylvamo by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock worth $1,165,000 after purchasing an additional 216 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on SLVM shares. Sidoti started coverage on Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Royal Bank of Canada upped their price target on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Finally, 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.

Sylvamo Stock Up 0.4 %

NYSE SLVM opened at $84.59 on Friday. The business has a 50 day moving average price of $83.95 and a two-hundred day moving average price of $75.50. Sylvamo Co. has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. The stock has a market cap of $3.47 billion, a PE ratio of 13.16, a P/E/G ratio of 4.55 and a beta of 1.08. The company has a quick ratio of 1.05, a current ratio of 1.72 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last announced its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. During the same period in the prior year, the company posted $1.70 EPS. Sylvamo’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s payout ratio is 27.99%.

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.