Janney Montgomery Scott LLC Sells 454 Shares of Sylvamo Corporation $SLVM

Janney Montgomery Scott LLC reduced its position in shares of Sylvamo Corporation (NYSE:SLVM) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,675 shares of the company’s stock after selling 454 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Sylvamo worth $1,587,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SLVM. Principal Financial Group Inc. lifted its holdings in Sylvamo by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 185,620 shares of the company’s stock worth $12,450,000 after purchasing an additional 2,958 shares in the last quarter. Jane Street Group LLC lifted its holdings in Sylvamo by 248.4% in the 1st quarter. Jane Street Group LLC now owns 174,648 shares of the company’s stock worth $11,714,000 after purchasing an additional 124,521 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in Sylvamo by 27.3% in the 1st quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company’s stock worth $418,000 after purchasing an additional 1,336 shares in the last quarter. Strs Ohio purchased a new stake in shares of Sylvamo during the 1st quarter worth approximately $838,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Sylvamo by 351.8% during the 1st quarter. Victory Capital Management Inc. now owns 166,844 shares of the company’s stock worth $11,190,000 after acquiring an additional 129,916 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SLVM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a report on Wednesday. Bank of America cut their price objective on Sylvamo from $67.00 to $64.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 price objective on Sylvamo and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, Zacks Research raised Sylvamo to a “strong sell” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Sylvamo currently has a consensus rating of “Reduce” and an average price target of $71.00.

Sylvamo Stock Performance

NYSE SLVM opened at $41.22 on Friday. The stock’s fifty day moving average is $44.17 and its two-hundred day moving average is $51.29. The firm has a market capitalization of $1.66 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 2.31 and a beta of 0.97. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 1.54. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two 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 (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). The firm had revenue of $794.00 million during the quarter, compared to analysts’ expectations of $826.60 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. Sylvamo’s quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. On average, research analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. Sylvamo’s dividend payout ratio is 34.42%.

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.