Pictet Asset Management Holding SA Has $30.81 Million Stake in Sylvamo Co. (NYSE:SLVM)

Pictet Asset Management Holding SA reduced its stake in shares of Sylvamo Co. (NYSE:SLVM) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 389,930 shares of the company’s stock after selling 17,398 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Sylvamo were worth $30,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLVM. Smartleaf Asset Management LLC boosted its holdings in shares of Sylvamo by 182.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $49,000 after buying an additional 403 shares during the period. GAMMA Investing LLC lifted its position in Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after acquiring an additional 201 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Sylvamo by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after acquiring an additional 214 shares during the period. LRI Investments LLC grew its position in shares of Sylvamo by 4,825.0% in the third quarter. LRI Investments LLC now owns 788 shares of the company’s stock valued at $66,000 after purchasing an additional 772 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sylvamo in the third quarter worth about $82,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

Insider Transactions at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the sale, the chief executive officer now directly owns 131,894 shares in the company, valued at approximately $8,591,575.16. This represents a 13.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SLVM has been the topic of a number of research analyst reports. Bank of America reaffirmed an “underperform” rating and issued a $96.00 target price on shares of Sylvamo in a report on Wednesday, December 11th. Royal Bank of Canada dropped their target price on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th.

Sylvamo Stock Up 0.6 %

SLVM stock opened at $67.28 on Monday. The business’s 50-day simple moving average is $71.86 and its 200 day simple moving average is $80.06. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The company has a market cap of $2.73 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. Sylvamo Co. has a twelve month low of $56.35 and a twelve month high of $98.02.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. On average, research analysts anticipate that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s dividend payout ratio is 24.97%.

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.