KLP Kapitalforvaltning AS Buys 12,400 Shares of Sylvamo Corporation $SLVM

KLP Kapitalforvaltning AS grew its stake in Sylvamo Corporation (NYSE:SLVM) by 108.8% in the 3rd quarter, Holdings Channel reports. The firm owned 23,800 shares of the company’s stock after purchasing an additional 12,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Sylvamo were worth $1,052,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Lazard Asset Management LLC increased its position in shares of Sylvamo by 0.9% during the second quarter. Lazard Asset Management LLC now owns 29,415 shares of the company’s stock valued at $1,473,000 after buying an additional 259 shares during the period. Wedge Capital Management L L P NC boosted its position in Sylvamo by 1.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 23,478 shares of the company’s stock valued at $1,176,000 after acquiring an additional 397 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Sylvamo by 5.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 7,901 shares of the company’s stock worth $396,000 after acquiring an additional 414 shares during the period. Blue Trust Inc. raised its position in shares of Sylvamo by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 1,209 shares of the company’s stock worth $61,000 after acquiring an additional 424 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Sylvamo by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 96,419 shares of the company’s stock valued at $4,831,000 after purchasing an additional 468 shares during the period. Institutional investors own 91.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SLVM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Sylvamo in a report on Wednesday, October 8th. Bank of America raised shares of Sylvamo from an “underperform” rating to a “buy” rating and upped their target price for the stock from $41.00 to $59.00 in a research report on Monday, November 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $53.00 price target on shares of Sylvamo in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.00.

Sylvamo Trading Up 0.2%

NYSE SLVM opened at $50.66 on Tuesday. Sylvamo Corporation has a 12 month low of $37.51 and a 12 month high of $82.06. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. The stock’s fifty day moving average price is $47.57 and its 200-day moving average price is $46.23. The stock has a market cap of $2.00 billion, a P/E ratio of 11.59 and a beta of 0.95.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, November 7th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.13). The firm had revenue of $846.00 million during the quarter, compared to the consensus estimate of $840.32 million. Sylvamo had a return on equity of 19.72% and a net margin of 5.25%.The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, equities analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Monday, January 5th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, January 5th. Sylvamo’s payout ratio is 41.19%.

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.