Sylvamo Co. (NYSE:SLVM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Sylvamo Co. (NYSE:SLVM) by 12.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,082 shares of the company’s stock after selling 283 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sylvamo were worth $84,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SLVM. First Trust Advisors LP acquired a new position in shares of Sylvamo in the 1st quarter valued at about $69,597,000. William Blair Investment Management LLC increased its stake in shares of Sylvamo by 212.6% in the 1st quarter. William Blair Investment Management LLC now owns 1,359,588 shares of the company’s stock valued at $62,895,000 after purchasing an additional 924,674 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sylvamo by 111.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 751,717 shares of the company’s stock valued at $34,774,000 after purchasing an additional 396,375 shares in the last quarter. Norges Bank purchased a new position in shares of Sylvamo in the 4th quarter valued at about $18,292,000. Finally, LSV Asset Management increased its stake in shares of Sylvamo by 98.0% in the 1st quarter. LSV Asset Management now owns 678,555 shares of the company’s stock valued at $31,390,000 after purchasing an additional 335,851 shares in the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Sylvamo Price Performance

Shares of Sylvamo stock opened at $48.20 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.76 and a debt-to-equity ratio of 1.13. Sylvamo Co. has a twelve month low of $37.59 and a twelve month high of $57.38. The business has a 50-day moving average price of $43.57 and a 200 day moving average price of $42.96. The firm has a market cap of $2.02 billion, a PE ratio of 7.00, a P/E/G ratio of 0.28 and a beta of 1.05.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Thursday, November 9th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.29 by $0.41. Sylvamo had a return on equity of 39.92% and a net margin of 8.05%. The company had revenue of $897.00 million during the quarter, compared to analyst estimates of $921.35 million. During the same period in the previous year, the business earned $2.51 EPS. Sylvamo’s quarterly revenue was down 7.3% on a year-over-year basis. Sell-side analysts predict that Sylvamo Co. will post 6.2 earnings per share for the current fiscal year.

Sylvamo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd were paid a dividend of $0.30 per share. This is a positive change from Sylvamo’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.49%. The ex-dividend date was Monday, October 2nd. Sylvamo’s payout ratio is 17.42%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lifted their price target on Sylvamo from $44.00 to $45.00 and gave the company a “sector perform” rating in a research note on Friday, November 10th.

Sylvamo Profile

Sylvamo Corporation produces and markets uncoated freesheet, 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 high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.