Price T Rowe Associates Inc. MD Raises Holdings in Sylvamo Co. (NYSE:SLVM)

Price T Rowe Associates Inc. MD raised its position in Sylvamo Co. (NYSE:SLVM) by 10.5% during the fourth quarter, HoldingsChannel reports. The firm owned 25,052 shares of the company’s stock after purchasing an additional 2,382 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Sylvamo were worth $1,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLVM. GAMMA Investing LLC lifted its position in Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after buying an additional 201 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Sylvamo by 224.6% during the 4th quarter. Blue Trust Inc. now owns 11,284 shares of the company’s stock worth $969,000 after acquiring an additional 7,808 shares during the period. Barclays PLC boosted its position in shares of Sylvamo by 324.6% during the 3rd quarter. Barclays PLC now owns 62,435 shares of the company’s stock valued at $5,360,000 after acquiring an additional 47,730 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Sylvamo by 10.3% in the fourth quarter. Bank of Montreal Can now owns 6,304 shares of the company’s stock valued at $498,000 after purchasing an additional 587 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Sylvamo by 7.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company’s stock worth $363,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada dropped their price target on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the sale, the chief executive officer now owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. This represents a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

Sylvamo Stock Performance

Shares of Sylvamo stock opened at $59.20 on Thursday. The business’s fifty day simple moving average is $62.89 and its 200-day simple moving average is $75.51. 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 firm has a market cap of $2.41 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.23 and a beta of 1.18. Sylvamo Co. has a 52 week low of $54.94 and a 52 week high of $98.02.

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

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, April 8th. Sylvamo’s payout ratio is 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.