Segall Bryant & Hamill LLC cut its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,188 shares of the company's stock after selling 8,743 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.19% of Sylvamo worth $6,541,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Sylvamo by 5.2% during the first 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 last quarter. Dimensional Fund Advisors LP increased its stake in Sylvamo by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company's stock valued at $90,276,000 after buying an additional 62,157 shares during the period. SG Americas Securities LLC purchased a new position in Sylvamo during the 2nd quarter worth $62,101,000. American Century Companies Inc. lifted its stake in shares of Sylvamo by 53.2% in the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company's stock worth $45,479,000 after acquiring an additional 230,291 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Sylvamo by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company's stock valued at $33,176,000 after acquiring an additional 1,779 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on SLVM. Bank of America increased their price target on shares of Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. Sidoti initiated coverage on Sylvamo in a report on Tuesday, October 15th. They issued a "buy" rating and a $100.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a research note on Monday, August 12th.
Read Our Latest Stock Report on Sylvamo
SLVM stock opened at $88.70 on Friday. The company's 50-day moving average price is $84.98 and its 200 day moving average price is $76.14. The company has a market cap of $3.64 billion, a P/E ratio of 13.79 and a beta of 1.08. Sylvamo Co. has a 52 week low of $44.94 and a 52 week 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.70 earnings per share. On average, research analysts expect that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.03%. Sylvamo's payout ratio is currently 27.99%.
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.
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