Bank of Montreal Can Acquires 587 Shares of Sylvamo Co. (NYSE:SLVM)

Bank of Montreal Can lifted its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,304 shares of the company’s stock after purchasing an additional 587 shares during the period. Bank of Montreal Can’s holdings in Sylvamo were worth $498,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in shares of Sylvamo by 150.9% in the 3rd quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock valued at $1,929,000 after acquiring an additional 13,512 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after purchasing an additional 201 shares during the period. Blue Trust Inc. grew its stake in shares of Sylvamo by 224.6% in the 4th quarter. Blue Trust Inc. now owns 11,284 shares of the company’s stock valued at $969,000 after buying an additional 7,808 shares during the period. Barclays PLC increased its position in Sylvamo by 324.6% in the 3rd quarter. Barclays PLC now owns 62,435 shares of the company’s stock valued at $5,360,000 after buying an additional 47,730 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Sylvamo by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company’s stock worth $363,000 after buying an additional 300 shares during the period. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Price Performance

SLVM stock opened at $58.21 on Tuesday. The company has a market capitalization of $2.37 billion, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. Sylvamo Co. has a 52-week low of $54.94 and a 52-week high of $98.02. The business has a 50-day simple moving average of $65.50 and a two-hundred day simple moving average of $77.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Research analysts expect that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.09%. Sylvamo’s dividend payout ratio is currently 24.97%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lowered their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th.

Insider Transactions at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. The trade was a 13.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.74% of the company’s stock.

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.