Sylvamo Co. (NYSE:SLVM) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Sylvamo Co. (NYSE:SLVM) by 5.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 47,794 shares of the company’s stock after buying an additional 2,489 shares during the period. New York State Common Retirement Fund’s holdings in Sylvamo were worth $2,347,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SLVM. Hollencrest Capital Management lifted its holdings in shares of Sylvamo by 170.2% during the third quarter. Hollencrest Capital Management now owns 981 shares of the company’s stock worth $43,000 after purchasing an additional 618 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Sylvamo during the fourth quarter worth about $219,000. Gallacher Capital Management LLC acquired a new stake in shares of Sylvamo during the third quarter worth about $261,000. Donoghue Forlines LLC acquired a new stake in shares of Sylvamo during the third quarter worth about $301,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sylvamo by 28.1% during the third 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 period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Trading Up 1.6 %

Shares of NYSE:SLVM opened at $66.12 on Wednesday. Sylvamo Co. has a 12-month low of $37.59 and a 12-month high of $66.67. The company has a market capitalization of $2.74 billion, a PE ratio of 11.17, a PEG ratio of 0.35 and a beta of 1.08. The business has a 50 day moving average of $61.01 and a two-hundred day moving average of $53.01. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $964.00 million during the quarter, compared to the consensus estimate of $903.72 million. During the same period in the previous year, the company posted $1.97 earnings per share. 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 year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Monday, April 8th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, April 5th. Sylvamo’s dividend payout ratio (DPR) is presently 20.27%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed 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 Activity

In other news, CEO Jeanmichel Ribieras sold 12,226 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.94, for a total value of $769,504.44. Following the completion of the sale, the chief executive officer now directly owns 144,501 shares in the company, valued at $9,094,892.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jeanmichel Ribieras sold 12,226 shares of the stock in a transaction on Monday, March 11th. The stock was 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 directly owns 144,501 shares of the company’s stock, valued at approximately $9,094,892.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Peggy Maes sold 1,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were 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 owns 11,249 shares of the company’s stock, valued at $710,936.80. The disclosure for this sale can be found here. Insiders sold 26,951 shares of company stock worth $1,618,664 over the last three months. 0.75% of the stock is currently owned by corporate insiders.

Sylvamo Company 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.