FORA Capital LLC Increases Stock Position in Sylvamo Co. (NYSE:SLVM)

by · The Markets Daily

FORA Capital LLC raised its position in Sylvamo Co. (NYSE:SLVM – Free Report) by 13.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,523 shares of the company’s stock after acquiring an additional 1,377 shares during the quarter. FORA Capital LLC’s holdings in Sylvamo were worth $989,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Townsquare Capital LLC purchased a new position in Sylvamo during the 3rd quarter valued at about $250,000. FMR LLC increased its stake in shares of Sylvamo by 4.4% during the third quarter. FMR LLC now owns 724,391 shares of the company’s stock valued at $62,189,000 after buying an additional 30,345 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Sylvamo during the third quarter valued at approximately $376,000. Pitcairn Co. purchased a new stake in Sylvamo in the third quarter worth $303,000. Finally, Algert Global LLC boosted its holdings in Sylvamo by 190.2% in the third quarter. Algert Global LLC now owns 10,290 shares of the company’s stock valued at $883,000 after acquiring an additional 6,744 shares in the last quarter. 91.16% of the stock is owned by institutional investors.

Sylvamo Stock Down 3.4 %

NYSE:SLVM opened at $91.26 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The firm’s 50-day moving average price is $86.33 and its 200-day moving average price is $77.08. The company has a market capitalization of $3.74 billion, a PE ratio of 14.19 and a beta of 1.08. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02.

Sylvamo (NYSE:SLVM – Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. During the same quarter last year, the firm earned $1.70 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts predict that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.97%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is 27.99%.

Wall Street Analyst Weigh In

SLVM has been the subject of several research reports. Royal Bank of Canada upped their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Sidoti assumed coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Bank of America lifted their price objective on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd.

Read Our Latest Research Report on SLVM

Sylvamo Profile

(Free Report)

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.

See Also

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