LSV Asset Management Sells 9,066 Shares of Sylvamo Co. (NYSE:SLVM)

LSV Asset Management trimmed its position in Sylvamo Co. (NYSE:SLVM) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,801,629 shares of the company’s stock after selling 9,066 shares during the period. LSV Asset Management’s holdings in Sylvamo were worth $88,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Sylvamo by 3.1% during the third quarter. Vanguard Group Inc. now owns 2,620,331 shares of the company’s stock valued at $115,137,000 after purchasing an additional 78,279 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in shares of Sylvamo by 60.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,823,426 shares of the company’s stock worth $80,167,000 after buying an additional 690,117 shares during the period. William Blair Investment Management LLC boosted its stake in Sylvamo by 15.8% in the 3rd quarter. William Blair Investment Management LLC now owns 1,773,987 shares of the company’s stock valued at $77,949,000 after buying an additional 241,441 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Sylvamo by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 741,430 shares of the company’s stock valued at $32,578,000 after acquiring an additional 13,957 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Sylvamo by 3.6% during the third quarter. Bank of New York Mellon Corp now owns 465,726 shares of the company’s stock worth $20,464,000 after acquiring an additional 16,085 shares in the last quarter. 91.16% of the stock is owned by institutional investors.

Sylvamo Price Performance

Shares of NYSE SLVM traded down $0.19 during mid-day trading on Friday, hitting $64.98. 199,084 shares of the stock were exchanged, compared to its average volume of 299,832. Sylvamo Co. has a twelve month low of $37.59 and a twelve month high of $65.93. The stock’s fifty day simple moving average is $60.71 and its two-hundred day simple moving average is $52.58. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.72. The company has a market cap of $2.69 billion, a P/E ratio of 10.98, a PEG ratio of 0.35 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.34. Sylvamo had a return on equity of 32.81% and a net margin of 6.77%. The business had revenue of $964.00 million for the quarter, compared to analyst estimates of $903.72 million. During the same period in the prior year, the company earned $1.97 EPS. Sylvamo’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Sylvamo Co. will post 6.15 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Monday, April 8th were issued a $0.30 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.85%. Sylvamo’s dividend payout ratio is 20.27%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price (up previously from $45.00) on shares of Sylvamo in a research note on Monday, February 26th.

Insider Activity at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 12,225 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $57.20, for a total transaction of $699,270.00. Following the transaction, the chief executive officer now directly owns 132,276 shares in the company, valued at $7,566,187.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Peggy Maes sold 1,500 shares of Sylvamo stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $63.20, for a total value of $94,800.00. Following the completion of the sale, the senior vice president now directly owns 11,249 shares in the company, valued at $710,936.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeanmichel Ribieras sold 12,225 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $57.20, for a total value of $699,270.00. Following the sale, the chief executive officer now directly owns 132,276 shares of the company’s stock, valued at $7,566,187.20. The disclosure for this sale can be found here. Insiders sold 26,951 shares of company stock valued at $1,618,664 over the last ninety days. 0.75% of the stock is owned by insiders.

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.