Sylvamo Co. (NYSE:SLVM) Position Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Sylvamo Co. (NYSE:SLVM) by 10.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,159 shares of the company’s stock after buying an additional 1,649 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sylvamo were worth $843,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its stake in Sylvamo by 8.5% in the fourth quarter. New York State Teachers Retirement System now owns 48,992 shares of the company’s stock valued at $2,406,000 after buying an additional 3,832 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Sylvamo by 4,871.5% in the fourth quarter. International Assets Investment Management LLC now owns 30,923 shares of the company’s stock valued at $1,519,000 after buying an additional 30,301 shares during the last quarter. U S Global Investors Inc. bought a new stake in Sylvamo in the fourth quarter valued at $393,000. Denali Advisors LLC lifted its stake in Sylvamo by 21.6% in the fourth quarter. Denali Advisors LLC now owns 88,900 shares of the company’s stock valued at $4,366,000 after buying an additional 15,800 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Sylvamo by 3.1% in the third quarter. Vanguard Group Inc. now owns 2,620,331 shares of the company’s stock valued at $115,137,000 after buying an additional 78,279 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

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 transaction of $94,800.00. Following the transaction, the senior vice president now directly owns 11,249 shares of the company’s stock, valued at $710,936.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jeanmichel Ribieras sold 12,225 shares of Sylvamo stock in a transaction dated Monday, March 18th. The stock was 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 of the company’s stock, valued at $7,566,187.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the senior vice president now directly owns 11,249 shares in the company, valued at $710,936.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,951 shares of company stock valued at $1,618,664 over the last three months. Company insiders own 0.75% of the company’s stock.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $62.71 on Thursday. Sylvamo Co. has a fifty-two week low of $37.59 and a fifty-two week high of $64.32. The firm’s 50-day simple moving average is $59.65 and its 200 day simple moving average is $51.64. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 1.03. The stock has a market cap of $2.60 billion, a P/E ratio of 10.59, a P/E/G ratio of 0.33 and a beta of 1.10.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.34. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. The business had revenue of $964.00 million for the quarter, compared to analysts’ expectations of $903.72 million. During the same period in the previous year, the business earned $1.97 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Sylvamo Co. will post 6.15 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, April 5th. Sylvamo’s dividend payout ratio is currently 20.27%.

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.