Vanguard Group Inc. Cuts Stock Position in Sylvamo Corporation $SLVM

Vanguard Group Inc. lessened its holdings in Sylvamo Corporation (NYSE:SLVM) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 2,928,108 shares of the company’s stock after selling 64,891 shares during the period. Vanguard Group Inc. owned 0.07% of Sylvamo worth $140,988,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SLVM. Nomura Holdings Inc. grew its stake in shares of Sylvamo by 34.1% in the 3rd quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock worth $95,073,000 after buying an additional 546,336 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Sylvamo by 3,945.8% in the 3rd quarter. Millennium Management LLC now owns 316,380 shares of the company’s stock worth $13,990,000 after buying an additional 308,560 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Sylvamo during the 2nd quarter valued at about $15,030,000. SG Americas Securities LLC lifted its holdings in shares of Sylvamo by 2,246.7% in the 4th quarter. SG Americas Securities LLC now owns 223,568 shares of the company’s stock valued at $10,765,000 after acquiring an additional 214,041 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Sylvamo by 334.1% during the third quarter. Bridgeway Capital Management LLC now owns 273,496 shares of the company’s stock worth $12,094,000 after acquiring an additional 210,496 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

Insider Buying and Selling

In other Sylvamo news, SVP Rodrigo Davoli sold 3,250 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.46, for a total value of $150,995.00. Following the completion of the sale, the senior vice president directly owned 46,484 shares in the company, valued at approximately $2,159,646.64. This represents a 6.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.81% of the stock is owned by insiders.

Sylvamo Stock Performance

Sylvamo stock opened at $41.14 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.45 and a quick ratio of 0.81. The firm has a market capitalization of $1.63 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.50 and a beta of 0.91. Sylvamo Corporation has a 1-year low of $37.09 and a 1-year high of $57.65. The company’s 50-day moving average is $42.40 and its 200 day moving average is $45.95.

Sylvamo (NYSE:SLVM) last released its earnings results on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $740.85 million. During the same period in the prior year, the company posted $0.68 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts forecast that Sylvamo Corporation will post 2.75 EPS for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.80 annualized dividend and a yield of 4.4%. Sylvamo’s dividend payout ratio is 71.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial assumed coverage on Sylvamo in a research note on Monday, March 30th. They issued a “buy” rating and a $54.00 price objective for the company. Zacks Research upgraded Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada lowered their price target on Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Sylvamo presently has an average rating of “Hold” and an average price target of $54.00.

About Sylvamo

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.