BNP Paribas Financial Markets Makes New $386,000 Investment in Sylvamo Co. (NYSE:SLVM)

BNP Paribas Financial Markets purchased a new stake in Sylvamo Co. (NYSE:SLVM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,890 shares of the company’s stock, valued at approximately $386,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of Sylvamo by 39.7% in the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company’s stock valued at $93,045,000 after purchasing an additional 334,792 shares during the period. American Century Companies Inc. increased its holdings in Sylvamo by 15.2% in the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock worth $80,289,000 after purchasing an additional 134,066 shares in the last quarter. Norges Bank acquired a new position in Sylvamo in the fourth quarter valued at approximately $6,505,000. Invesco Ltd. boosted its holdings in shares of Sylvamo by 27.5% during the 4th quarter. Invesco Ltd. now owns 375,231 shares of the company’s stock worth $29,651,000 after buying an additional 80,895 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Sylvamo by 16.6% during the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company’s stock worth $40,139,000 after buying an additional 72,226 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada dropped their price objective on shares of Sylvamo from $70.00 to $61.00 and set a “sector perform” rating on the stock in a report on Monday, May 12th.

Sylvamo Trading Down 2.6%

NYSE:SLVM opened at $54.19 on Monday. The firm’s 50 day moving average is $60.33 and its 200 day moving average is $72.78. Sylvamo Co. has a 12 month low of $51.60 and a 12 month high of $98.02. The stock has a market capitalization of $2.21 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 2.23 and a beta of 1.18. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92.

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

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Tuesday, July 8th. Sylvamo’s payout ratio is 26.32%.

Insider Activity

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.74% of the company’s stock.

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.