Sylvamo Corporation $SLVM Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its position in Sylvamo Corporation (NYSE:SLVM) by 5.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 557,398 shares of the company’s stock after purchasing an additional 27,593 shares during the quarter. Allianz Asset Management GmbH’s holdings in Sylvamo were worth $24,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Sylvamo by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 196,445 shares of the company’s stock valued at $8,687,000 after acquiring an additional 5,300 shares during the last quarter. AE Wealth Management LLC acquired a new position in Sylvamo during the third quarter valued at $247,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Sylvamo by 22.6% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 7,600 shares of the company’s stock valued at $336,000 after purchasing an additional 1,400 shares during the last quarter. New York State Common Retirement Fund grew its position in Sylvamo by 61.9% during the 3rd quarter. New York State Common Retirement Fund now owns 33,202 shares of the company’s stock worth $1,468,000 after purchasing an additional 12,700 shares during the period. Finally, SummerHaven Investment Management LLC purchased a new position in shares of Sylvamo during the 3rd quarter valued at about $712,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Performance

SLVM opened at $50.70 on Friday. The firm’s fifty day simple moving average is $49.56 and its two-hundred day simple moving average is $46.20. Sylvamo Corporation has a 52-week low of $37.51 and a 52-week high of $78.50. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 11.60 and a beta of 0.95. The company has a quick ratio of 0.85, a current ratio of 1.52 and a debt-to-equity ratio of 0.80.

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

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Monday, January 5th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, January 5th. Sylvamo’s payout ratio is presently 41.19%.

Analysts Set New Price Targets

A number of analysts have recently commented on SLVM shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $53.00 target price on shares of Sylvamo in a research note on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Sylvamo in a research report on Wednesday, January 21st. Finally, Bank of America raised shares of Sylvamo from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $41.00 to $59.00 in a research note on Monday, November 17th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sylvamo presently has a consensus rating of “Hold” and an average price target of $56.00.

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.