Ritholtz Wealth Management Decreases Stock Holdings in Sylvamo Corporation (NYSE:SLVM)

Ritholtz Wealth Management reduced its position in shares of Sylvamo Corporation (NYSE:SLVM) by 27.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,089 shares of the company’s stock after selling 3,831 shares during the period. Ritholtz Wealth Management’s holdings in Sylvamo were worth $677,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SLVM. First Trust Advisors LP lifted its position in shares of Sylvamo by 39.7% during the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company’s stock worth $93,045,000 after purchasing an additional 334,792 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Sylvamo by 15.2% during the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock worth $80,289,000 after purchasing an additional 134,066 shares during the last quarter. Millennium Management LLC lifted its position in shares of Sylvamo by 185.1% during the 4th quarter. Millennium Management LLC now owns 144,431 shares of the company’s stock worth $11,413,000 after purchasing an additional 93,767 shares during the last quarter. Norges Bank purchased a new stake in Sylvamo in the fourth quarter valued at $6,505,000. Finally, Invesco Ltd. lifted its position in Sylvamo by 27.5% in the fourth quarter. Invesco Ltd. now owns 375,231 shares of the company’s stock valued at $29,651,000 after acquiring an additional 80,895 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Price Performance

Shares of SLVM opened at $50.14 on Thursday. Sylvamo Corporation has a 1-year low of $50.01 and a 1-year high of $98.02. The stock has a market cap of $2.04 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 1.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04. The firm has a fifty day moving average price of $56.37 and a 200 day moving average price of $68.46.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $819.61 million. During the same period last year, the firm earned $1.07 earnings per share. Sylvamo’s revenue was down 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 3.59%. Sylvamo’s dividend payout ratio is presently 26.32%.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada reduced their price target on shares of Sylvamo from $70.00 to $61.00 and set a “sector perform” rating for the company in a research report on Monday, May 12th.

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.