Mackenzie Financial Corp Takes Position in Sylvamo Co. (NYSE:SLVM)

Mackenzie Financial Corp purchased a new position in Sylvamo Co. (NYSE:SLVM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,456 shares of the company’s stock, valued at approximately $219,000.

Other large investors also recently bought and sold shares of the company. Handelsbanken Fonder AB purchased a new position in shares of Sylvamo during the 3rd quarter valued at approximately $321,000. Maryland State Retirement & Pension System grew its position in shares of Sylvamo by 5.4% in the third quarter. Maryland State Retirement & Pension System now owns 13,107 shares of the company’s stock valued at $576,000 after purchasing an additional 670 shares during the period. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 16,085 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sylvamo by 28.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,943 shares of the company’s stock worth $305,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Strs Ohio lifted its stake in Sylvamo by 2.6% in the 3rd quarter. Strs Ohio now owns 19,500 shares of the company’s stock valued at $856,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Trading Up 2.3 %

Shares of SLVM opened at $63.06 on Monday. The firm’s fifty day moving average is $59.89 and its two-hundred day moving average is $51.99. The stock has a market cap of $2.61 billion, a PE ratio of 10.65, a price-to-earnings-growth ratio of 0.34 and a beta of 1.10. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 1.03. Sylvamo Co. has a 52-week low of $37.59 and a 52-week high of $64.32.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.34. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. The company had revenue of $964.00 million during the quarter, compared to analysts’ expectations of $903.72 million. During the same quarter in the prior year, the company earned $1.97 EPS. Sylvamo’s revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Sylvamo Co. will post 6.15 earnings per share for the current fiscal 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 given a dividend of $0.30 per share. The ex-dividend date is Friday, April 5th. This represents a $1.20 dividend on an annualized basis and a yield of 1.90%. Sylvamo’s payout ratio is 20.27%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Sylvamo

In other news, SVP Peggy Maes sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total transaction of $55,090.00. Following the transaction, the senior vice president now owns 10,535 shares of the company’s stock, valued at approximately $580,373.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Peggy Maes sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total transaction of $55,090.00. Following the completion of the sale, the senior vice president now owns 10,535 shares in the company, valued at approximately $580,373.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeanmichel Ribieras sold 12,226 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $62.94, for a total value of $769,504.44. Following the completion of the transaction, the chief executive officer now owns 144,501 shares in the company, valued at $9,094,892.94. The disclosure for this sale can be found here. Insiders sold a total of 26,951 shares of company stock worth $1,618,664 in the last three months. 0.75% of the stock is owned by corporate insiders.

Sylvamo Profile

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.