Ameriprise Financial Inc. Has $8.80 Million Holdings in Sylvamo Co. (NYSE:SLVM)

Ameriprise Financial Inc. lessened its stake in Sylvamo Co. (NYSE:SLVM) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,355 shares of the company’s stock after selling 6,740 shares during the quarter. Ameriprise Financial Inc. owned about 0.27% of Sylvamo worth $8,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC raised its stake in Sylvamo by 324.6% during the third quarter. Barclays PLC now owns 62,435 shares of the company’s stock worth $5,360,000 after acquiring an additional 47,730 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in Sylvamo by 24.6% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,984 shares of the company’s stock worth $236,000 after acquiring an additional 590 shares in the last quarter. SG Americas Securities LLC raised its stake in Sylvamo by 277.6% during the fourth quarter. SG Americas Securities LLC now owns 21,105 shares of the company’s stock worth $1,668,000 after acquiring an additional 15,516 shares in the last quarter. CX Institutional raised its stake in Sylvamo by 2.0% during the fourth quarter. CX Institutional now owns 19,385 shares of the company’s stock worth $1,532,000 after acquiring an additional 386 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Sylvamo by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock worth $58,000 after acquiring an additional 214 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Performance

Sylvamo stock opened at $57.54 on Wednesday. The business has a 50 day moving average of $60.95 and a 200-day moving average of $73.62. Sylvamo Co. has a 1 year low of $51.60 and a 1 year high of $98.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. The company has a market capitalization of $2.34 billion, a P/E ratio of 7.98, a P/E/G ratio of 2.23 and a beta of 1.18.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. The firm had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. During the same period in the prior year, the company earned $1.07 EPS. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Tuesday, July 8th. Sylvamo’s payout ratio is 26.32%.

Insiders Place Their Bets

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at approximately $8,591,575.16. This represents a 13.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lowered their target price on Sylvamo from $70.00 to $61.00 and set a “sector perform” rating for the company in a research note on Monday, May 12th.

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.