Zacks Investment Management Sells 1,349 Shares of Sylvamo Co. (NYSE:SLVM)

Zacks Investment Management trimmed its holdings in Sylvamo Co. (NYSE:SLVM) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 60,643 shares of the company’s stock after selling 1,349 shares during the quarter. Zacks Investment Management’s holdings in Sylvamo were worth $5,206,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. CWM LLC lifted its stake in shares of Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the last quarter. Independence Bank of Kentucky raised its holdings in Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after buying an additional 239 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after buying an additional 171 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Trading Up 1.7 %

Sylvamo stock opened at $90.63 on Friday. The business’s 50-day simple moving average is $87.13 and its 200-day simple moving average is $78.00. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The firm has a market capitalization of $3.72 billion, a PE ratio of 14.09 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72.

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

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s payout ratio is currently 27.99%.

Analyst Ratings Changes

SLVM has been the topic of a number of recent analyst reports. Bank of America raised their price objective on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Sidoti assumed coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective 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.