Sylvamo Co. (NYSE:SLVM) Stock Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,312 shares of the company’s stock after selling 376 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sylvamo were worth $1,658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SLVM. Pacer Advisors Inc. raised its position in Sylvamo by 83,084.0% during the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock valued at $197,815,000 after acquiring an additional 2,301,427 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sylvamo by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock valued at $90,276,000 after acquiring an additional 62,157 shares during the period. American Century Companies Inc. increased its holdings in shares of Sylvamo by 53.2% during the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock worth $45,479,000 after buying an additional 230,291 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sylvamo by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock valued at $33,176,000 after buying an additional 1,779 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Sylvamo by 10.0% during the second quarter. Millennium Management LLC now owns 345,944 shares of the company’s stock valued at $23,732,000 after purchasing an additional 31,360 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SLVM shares. Royal Bank of Canada upped their price objective on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Sidoti started coverage on Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target for the company. Finally, Bank of America upped their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd.

Sylvamo Trading Up 0.7 %

SLVM opened at $91.28 on Tuesday. The company’s 50 day moving average is $87.13 and its 200-day moving average is $78.05. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.74 billion, a P/E ratio of 14.20 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 EPS. Equities research analysts predict that Sylvamo Co. will post 7.06 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s dividend payout ratio is 27.99%.

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.