Perigon Wealth Management LLC Has $706,000 Stake in Sylvamo Co. (NYSE:SLVM)

Perigon Wealth Management LLC lessened its stake in shares of Sylvamo Co. (NYSE:SLVM) by 20.9% during the fourth quarter, Holdings Channel reports. The fund owned 8,910 shares of the company’s stock after selling 2,349 shares during the quarter. Perigon Wealth Management LLC’s holdings in Sylvamo were worth $706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Sylvamo by 44.9% during the 2nd quarter. Sei Investments Co. now owns 45,550 shares of the company’s stock worth $3,125,000 after purchasing an additional 14,107 shares in the last quarter. Bank of Montreal Can boosted its holdings in Sylvamo by 2.8% in the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after acquiring an additional 154 shares in the last quarter. Squarepoint Ops LLC grew its stake in Sylvamo by 188.0% in the second quarter. Squarepoint Ops LLC now owns 20,094 shares of the company’s stock valued at $1,378,000 after acquiring an additional 13,117 shares during the period. Millennium Management LLC increased its holdings in shares of Sylvamo by 10.0% during the second quarter. Millennium Management LLC now owns 345,944 shares of the company’s stock valued at $23,732,000 after acquiring an additional 31,360 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Sylvamo by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,688 shares of the company’s stock worth $1,351,000 after purchasing an additional 336 shares during the period. 91.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLVM. Bank of America reissued an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th. Sidoti initiated coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price for the company.

Sylvamo Trading Down 1.4 %

Shares of Sylvamo stock opened at $80.05 on Friday. The company has a market capitalization of $3.28 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.28 and a beta of 1.13. The stock has a fifty day simple moving average of $83.51 and a 200 day simple moving average of $81.17. Sylvamo Co. has a 12-month low of $44.94 and a 12-month high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last posted its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.47 million. During the same quarter in the prior year, the business posted $1.70 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Sylvamo Co. will post 7.15 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Monday, January 6th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, January 6th. Sylvamo’s dividend payout ratio is presently 27.99%.

About Sylvamo

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.