Sylvamo Corporation $SLVM Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its holdings in shares of Sylvamo Corporation (NYSE:SLVM) by 8.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 242,221 shares of the company’s stock after buying an additional 18,653 shares during the quarter. SG Americas Securities LLC’s holdings in Sylvamo were worth $10,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLVM. Millennium Management LLC raised its holdings in shares of Sylvamo by 605.9% during the fourth quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock worth $107,529,000 after purchasing an additional 1,916,829 shares during the last quarter. Jain Global LLC acquired a new stake in Sylvamo during the 4th quarter worth about $39,072,000. William Blair Investment Management LLC acquired a new stake in Sylvamo during the 4th quarter worth about $33,777,000. Nomura Holdings Inc. raised its stake in shares of Sylvamo by 34.1% during the 3rd quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock valued at $95,073,000 after buying an additional 546,336 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Sylvamo in the 2nd quarter valued at about $15,030,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $39.26 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.45. The firm has a fifty day moving average of $40.23 and a 200 day moving average of $44.58. The firm has a market cap of $1.56 billion, a PE ratio of 15.52, a PEG ratio of 0.60 and a beta of 0.86. Sylvamo Corporation has a one year low of $35.53 and a one year high of $56.80.

Sylvamo (NYSE:SLVM) last announced its earnings results on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. As a group, research analysts predict that Sylvamo Corporation will post 2.32 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, July 7th. Sylvamo’s payout ratio is presently 71.15%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada lowered their target price on Sylvamo from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. Weiss Ratings cut shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Truist Financial began coverage on shares of Sylvamo in a report on Monday, March 30th. They set a “buy” rating and a $54.00 price target on the stock. Finally, Zacks Research raised shares of Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.00.

Insider Transactions at Sylvamo

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $41.70, for a total transaction of $51,291.00. Following the completion of the sale, the director directly owned 14,475 shares in the company, valued at approximately $603,607.50. The trade was a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

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.