Rock Point Advisors LLC Sells 23,377 Shares of Sylvamo Co. (NYSE:SLVM)

Rock Point Advisors LLC reduced its stake in shares of Sylvamo Co. (NYSE:SLVM) by 45.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,582 shares of the company’s stock after selling 23,377 shares during the quarter. Rock Point Advisors LLC’s holdings in Sylvamo were worth $2,454,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its position in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares during the last quarter. Independence Bank of Kentucky raised its holdings in Sylvamo by 6,733.3% in the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after acquiring an additional 404 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after purchasing an additional 239 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after purchasing an additional 171 shares during the period. 91.16% of the stock is owned by institutional investors.

Sylvamo Stock Down 3.1 %

NYSE:SLVM traded down $3.00 during trading hours on Tuesday, reaching $92.32. 18,809 shares of the stock were exchanged, compared to its average volume of 312,353. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. Sylvamo Co. has a twelve month low of $44.94 and a twelve month high of $98.02. The stock has a market cap of $3.79 billion, a PE ratio of 14.83 and a beta of 1.08. The firm has a 50 day moving average of $85.61 and a 200 day moving average of $76.67.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.70 EPS. On average, equities analysts expect that Sylvamo Co. will post 7.07 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were paid a $0.45 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.95%. Sylvamo’s dividend payout ratio (DPR) is presently 27.99%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Sidoti started coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Bank of America lifted their price objective on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada upped their target price on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th.

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.