Denali Advisors LLC Lowers Stock Position in Sylvamo Co. (NYSE:SLVM)

Denali Advisors LLC lessened its holdings in Sylvamo Co. (NYSE:SLVM) by 6.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 83,200 shares of the company’s stock after selling 5,700 shares during the quarter. Sylvamo makes up about 1.5% of Denali Advisors LLC’s holdings, making the stock its 12th largest holding. Denali Advisors LLC’s holdings in Sylvamo were worth $5,137,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Mackenzie Financial Corp bought a new position in shares of Sylvamo during the 4th quarter worth approximately $219,000. Truist Financial Corp bought a new position in shares of Sylvamo during the 4th quarter worth approximately $308,000. Donoghue Forlines LLC increased its stake in Sylvamo by 4.0% during the 4th quarter. Donoghue Forlines LLC now owns 7,135 shares of the company’s stock valued at $350,000 after purchasing an additional 275 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sylvamo by 12.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,775 shares of the company’s stock valued at $382,000 after purchasing an additional 832 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new position in Sylvamo during the 4th quarter valued at approximately $393,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped their price target on shares of Sylvamo from $56.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, May 13th.

Sylvamo Stock Performance

Shares of NYSE:SLVM traded up $1.14 during midday trading on Wednesday, reaching $69.14. The company’s stock had a trading volume of 213,618 shares, compared to its average volume of 344,328. The firm has a market capitalization of $2.84 billion, a PE ratio of 14.50, a P/E/G ratio of 0.34 and a beta of 1.07. Sylvamo Co. has a twelve month low of $37.59 and a twelve month high of $72.48. The stock has a fifty day moving average of $68.39 and a 200 day moving average of $59.21. The company has a quick ratio of 1.09, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, May 10th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. The firm had revenue of $905.00 million for the quarter, compared to analyst estimates of $864.38 million. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.51 earnings per share. On average, equities analysts expect that Sylvamo Co. will post 6.75 EPS for the current fiscal year.

Sylvamo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Monday, July 8th will be issued a $0.45 dividend. This is a boost from Sylvamo’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.60%. Sylvamo’s payout ratio is presently 25.59%.

Sylvamo Company Profile

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.