Norges Bank Purchases New Shares in Sylvamo Co. (NYSE:SLVM)

Norges Bank purchased a new stake in shares of Sylvamo Co. (NYSE:SLVMFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 207,817 shares of the company’s stock, valued at approximately $10,206,000. Norges Bank owned approximately 0.50% of Sylvamo as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SLVM. Victory Capital Management Inc. raised its stake in Sylvamo by 257.6% during the third quarter. Victory Capital Management Inc. now owns 179,218 shares of the company’s stock valued at $7,875,000 after purchasing an additional 129,106 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Sylvamo by 211.1% in the third quarter. New York State Common Retirement Fund now owns 45,305 shares of the company’s stock valued at $1,991,000 after acquiring an additional 30,741 shares during the period. Amalgamated Bank raised its stake in shares of Sylvamo by 6.4% in the third quarter. Amalgamated Bank now owns 16,115 shares of the company’s stock valued at $708,000 after acquiring an additional 972 shares during the period. Swiss National Bank raised its stake in shares of Sylvamo by 1.1% in the third quarter. Swiss National Bank now owns 84,300 shares of the company’s stock valued at $3,704,000 after acquiring an additional 900 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Sylvamo by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 741,430 shares of the company’s stock valued at $32,578,000 after acquiring an additional 13,957 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Trading Up 2.3 %

Shares of SLVM opened at $70.88 on Thursday. Sylvamo Co. has a twelve month low of $37.59 and a twelve month high of $72.36. The company has a market cap of $2.92 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.36 and a beta of 1.11. The company has a current ratio of 1.72, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $64.88 and its 200-day simple moving average is $56.59.

Sylvamo (NYSE:SLVMGet Free Report) last posted its quarterly earnings results on Friday, May 10th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.05 by $0.02. The company had revenue of $905.00 million for the quarter, compared to the consensus estimate of $864.38 million. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.51 EPS. As a group, analysts expect that Sylvamo Co. will post 6.75 EPS for the current year.

Sylvamo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Monday, July 8th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, July 5th. This is an increase from Sylvamo’s previous quarterly dividend of $0.30. Sylvamo’s dividend payout ratio (DPR) is currently 25.59%.

Insider Buying and Selling

In related news, CEO Jeanmichel Ribieras sold 12,225 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $57.20, for a total value of $699,270.00. Following the transaction, the chief executive officer now owns 132,276 shares of the company’s stock, valued at approximately $7,566,187.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Sylvamo news, SVP Peggy Maes sold 1,500 shares of the stock in a transaction dated Monday, March 11th. The shares were 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 in the company, valued at approximately $710,936.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeanmichel Ribieras sold 12,225 shares of the 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 owns 132,276 shares in the company, valued at $7,566,187.20. The disclosure for this sale can be found here. Insiders have sold 25,951 shares of company stock valued at $1,563,574 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada increased their target price on shares of Sylvamo from $56.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, May 13th.

View Our Latest Research Report on SLVM

Sylvamo Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sylvamo (NYSE:SLVM)

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