EverSource Wealth Advisors LLC Increases Stock Position in Sylvamo Co. (NYSE:SLVM)

EverSource Wealth Advisors LLC grew its stake in shares of Sylvamo Co. (NYSE:SLVM) by 795.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,262 shares of the company’s stock after acquiring an additional 1,121 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Sylvamo were worth $93,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after acquiring an additional 157 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock worth $1,165,000 after buying an additional 216 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Sylvamo by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after buying an additional 400 shares during the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in shares of Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Price Performance

Shares of NYSE:SLVM opened at $84.76 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05. Sylvamo Co. has a 1-year low of $40.79 and a 1-year high of $88.42. The company has a market capitalization of $3.48 billion, a P/E ratio of 18.07, a P/E/G ratio of 5.01 and a beta of 1.07. The firm’s 50 day simple moving average is $76.23 and its two-hundred day simple moving average is $69.34.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts expect that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio is currently 38.38%.

Wall Street Analyst Weigh In

SLVM has been the topic of a number of research reports. Royal Bank of Canada raised their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Bank of America raised their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd.

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.