State of New Jersey Common Pension Fund D Trims Stake in Sylvamo Co. (NYSE:SLVM)

State of New Jersey Common Pension Fund D lowered its holdings in Sylvamo Co. (NYSE:SLVM) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,212 shares of the company’s stock after selling 814 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sylvamo were worth $1,913,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Fortitude Family Office LLC raised its position in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after buying an additional 239 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Sylvamo by 43.6% in the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after purchasing an additional 201 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after purchasing an additional 214 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Sylvamo by 4,825.0% during the 3rd quarter. LRI Investments LLC now owns 788 shares of the company’s stock valued at $66,000 after buying an additional 772 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sylvamo in the 3rd quarter worth approximately $82,000. Institutional investors own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank of Canada reduced their target price on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Bank of America reaffirmed an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th.

Sylvamo Trading Down 0.5 %

SLVM opened at $68.05 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. Sylvamo Co. has a 52 week low of $55.50 and a 52 week high of $98.02. The stock has a market cap of $2.79 billion, a PE ratio of 9.44, a PEG ratio of 2.23 and a beta of 1.12. The business has a 50 day moving average of $77.76 and a 200-day moving average of $81.64.

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

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.65%. Sylvamo’s dividend payout ratio (DPR) is presently 24.97%.

About Sylvamo

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.