Jacobs Levy Equity Management Inc. Lowers Stake in Sylvamo Co. (NYSE:SLVM)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Sylvamo Co. (NYSE:SLVM) by 0.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 386,309 shares of the company’s stock after selling 1,742 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Sylvamo were worth $23,851,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after purchasing an additional 138,655 shares during the period. Dimensional Fund Advisors LP grew its holdings in Sylvamo by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock worth $56,406,000 after acquiring an additional 79,778 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Sylvamo by 41.4% in the 4th quarter. Victory Capital Management Inc. now owns 253,358 shares of the company’s stock worth $12,442,000 after acquiring an additional 74,140 shares during the last quarter. Norges Bank bought a new stake in Sylvamo in the 4th quarter worth $10,206,000. Finally, Allianz Asset Management GmbH grew its holdings in Sylvamo by 15.2% in the 4th quarter. Allianz Asset Management GmbH now owns 159,189 shares of the company’s stock worth $7,818,000 after acquiring an additional 21,026 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sylvamo Trading Down 2.1 %

Shares of SLVM traded down $1.63 during trading hours on Tuesday, reaching $74.37. 234,409 shares of the company traded hands, compared to its average volume of 329,978. The company’s fifty day moving average price is $69.99 and its two-hundred day moving average price is $62.03. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.37 and a beta of 1.07. 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 Co. has a 12 month low of $37.59 and a 12 month high of $77.32.

Sylvamo (NYSE:SLVM) last announced its earnings results on Friday, May 10th. The company reported $1.07 earnings per share for the quarter, beating 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 company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.51 EPS. Equities research analysts predict that Sylvamo Co. will post 6.9 earnings per share for the current fiscal year.

Sylvamo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Monday, July 8th were paid a dividend of $0.45 per share. This is a positive change from Sylvamo’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.42%. Sylvamo’s payout ratio is presently 38.38%.

Sylvamo 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.