Handelsbanken Fonder AB Buys 2,100 Shares of Sylvamo Corporation $SLVM

Handelsbanken Fonder AB boosted its position in shares of Sylvamo Corporation (NYSE:SLVM) by 45.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,700 shares of the company’s stock after acquiring an additional 2,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sylvamo were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Sylvamo by 5.2% in 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. LSV Asset Management lifted its position in shares of Sylvamo by 0.7% in the first quarter. LSV Asset Management now owns 1,804,055 shares of the company’s stock valued at $120,998,000 after buying an additional 12,371 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Sylvamo by 10.6% during the 1st quarter. American Century Companies Inc. now owns 1,123,686 shares of the company’s stock worth $75,366,000 after acquiring an additional 107,622 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sylvamo by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 985,834 shares of the company’s stock worth $49,396,000 after acquiring an additional 6,989 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Sylvamo by 248.4% in the 1st quarter. Jane Street Group LLC now owns 174,648 shares of the company’s stock valued at $11,714,000 after acquiring an additional 124,521 shares during the period. Institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Down 1.0%

NYSE:SLVM opened at $47.37 on Monday. Sylvamo Corporation has a one year low of $37.51 and a one year high of $93.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.85. The company has a market cap of $1.87 billion, a PE ratio of 10.84 and a beta of 0.95. The firm’s 50 day simple moving average is $43.64 and its 200 day simple moving average is $47.14.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, November 7th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.13). The company had revenue of $846.00 million during the quarter, compared to the consensus estimate of $840.32 million. Sylvamo had a net margin of 5.25% and a return on equity of 19.72%. The company’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 EPS. On average, research analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were paid a $0.45 dividend. The ex-dividend date was Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 3.8%. Sylvamo’s dividend payout ratio (DPR) is currently 41.19%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLVM shares. Bank of America upgraded Sylvamo from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $59.00 in a report on Monday, November 17th. Zacks Research raised Sylvamo to a “strong sell” rating in a report on Monday, August 11th. Royal Bank Of Canada lifted their target price on Sylvamo from $47.00 to $49.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.00.

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.