Sylvamo Corporation (NYSE:SLVM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of Sylvamo Corporation (NYSE:SLVM) by 13.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,943 shares of the company’s stock after selling 1,599 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sylvamo were worth $667,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Sylvamo by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 185,620 shares of the company’s stock worth $12,450,000 after acquiring an additional 2,958 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Sylvamo by 27.3% in the 1st quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company’s stock valued at $418,000 after buying an additional 1,336 shares during the period. Deutsche Bank AG grew its stake in shares of Sylvamo by 48.0% in the 4th quarter. Deutsche Bank AG now owns 31,474 shares of the company’s stock valued at $2,487,000 after buying an additional 10,204 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Sylvamo during the 4th quarter worth approximately $372,000. Finally, Bank of Montreal Can boosted its position in shares of Sylvamo by 10.3% during the 4th quarter. Bank of Montreal Can now owns 6,304 shares of the company’s stock worth $498,000 after purchasing an additional 587 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America decreased their price target on shares of Sylvamo from $67.00 to $64.00 and set an “underperform” rating for the company in a research report on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the stock a “sector perform” rating in a research note on Monday.

Sylvamo Stock Up 3.5%

Shares of NYSE SLVM opened at $45.66 on Thursday. Sylvamo Corporation has a 12-month low of $37.51 and a 12-month high of $98.02. The company has a market capitalization of $1.84 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 2.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.54 and a quick ratio of 0.91. The firm’s 50-day moving average is $49.78 and its two-hundred day moving average is $59.27.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.10). The company had revenue of $794.00 million for the quarter, compared to analyst estimates of $826.60 million. Sylvamo had a return on equity of 23.99% and a net margin of 6.11%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. Equities analysts anticipate that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, July 8th. Sylvamo’s dividend payout ratio (DPR) is 34.42%.

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.