HighTower Advisors LLC Lowers Position in Sylvamo Corporation $SLVM

HighTower Advisors LLC decreased its stake in shares of Sylvamo Corporation (NYSE:SLVM) by 70.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,760 shares of the company’s stock after selling 13,713 shares during the quarter. HighTower Advisors LLC’s holdings in Sylvamo were worth $386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SLVM. Vanguard Group Inc. boosted its holdings in shares of Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company’s stock valued at $200,843,000 after purchasing an additional 149,326 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Sylvamo by 351.8% during the first quarter. Victory Capital Management Inc. now owns 166,844 shares of the company’s stock valued at $11,190,000 after buying an additional 129,916 shares during the last quarter. Nuveen LLC purchased a new position in Sylvamo during the 1st quarter valued at approximately $6,371,000. Millennium Management LLC grew its holdings in Sylvamo by 185.1% during the 4th quarter. Millennium Management LLC now owns 144,431 shares of the company’s stock valued at $11,413,000 after buying an additional 93,767 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Sylvamo in the 4th quarter worth approximately $4,752,000. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Stock Up 0.5%

Shares of SLVM opened at $46.15 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $47.87 and a 200 day moving average of $56.06. The company has a market cap of $1.86 billion, a PE ratio of 8.82, a P/E/G ratio of 2.59 and a beta of 1.00. Sylvamo Corporation has a 52-week low of $37.51 and a 52-week high of $98.02.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, August 8th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). The firm had revenue of $794.00 million for the quarter, compared to the consensus estimate of $826.60 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The company’s revenue was down 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 EPS. On average, sell-side analysts expect that Sylvamo Corporation will post 7.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLVM. Zacks Research upgraded Sylvamo to a “strong sell” rating in a research report on Monday, August 11th. Royal Bank Of Canada set a $49.00 price objective on shares of Sylvamo and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, Bank of America reduced their target price on shares of Sylvamo from $67.00 to $64.00 and set an “underperform” rating on the stock in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Sylvamo currently has an average rating of “Reduce” and a consensus price target of $71.00.

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.