Sylvamo Co. (NYSE:SLVM) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in Sylvamo Co. (NYSE:SLVMGet Rating) by 24.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,800 shares of the company’s stock after acquiring an additional 6,600 shares during the quarter. Bank of Nova Scotia owned 0.08% of Sylvamo worth $1,105,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in shares of Sylvamo in the first quarter valued at $25,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Sylvamo in the second quarter valued at $31,000. Van ECK Associates Corp purchased a new position in shares of Sylvamo in the second quarter valued at $34,000. Meeder Asset Management Inc. increased its position in shares of Sylvamo by 199.5% in the first quarter. Meeder Asset Management Inc. now owns 1,258 shares of the company’s stock valued at $42,000 after buying an additional 838 shares in the last quarter. Finally, Venture Visionary Partners LLC purchased a new position in shares of Sylvamo in the second quarter valued at $62,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Sylvamo Trading Up 1.3 %

Sylvamo stock opened at $50.36 on Friday. The stock has a market cap of $2.22 billion and a PE ratio of 25.83. The stock has a 50-day moving average price of $42.05 and a 200 day moving average price of $41.32. Sylvamo Co. has a 52 week low of $26.46 and a 52 week high of $53.00. The company has a current ratio of 1.37, a quick ratio of 1.04 and a debt-to-equity ratio of 4.65.

Sylvamo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, January 3rd. This is a boost from Sylvamo’s previous quarterly dividend of $0.11. Sylvamo’s dividend payout ratio (DPR) is currently 23.08%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Bank of America assumed coverage on Sylvamo in a research report on Thursday, October 13th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price objective on Sylvamo from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, November 11th.

Insider Buying and Selling

In other Sylvamo news, major shareholder Paper Co /New/ International sold 4,614,358 shares of Sylvamo stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.25, for a total value of $167,270,477.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Sylvamo Profile

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Sylvamo Corporation produces and supplies printing paper in Latin America, Europe, and North America. The company offers uncoated freesheet for paper products, such as cutsize and offset paper; and markets pulp, aseptic, and liquid packaging board, as well as coated unbleached kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft; and bleached chemi-thermomechanical pulp.

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Institutional Ownership by Quarter for Sylvamo (NYSE:SLVM)

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