FORA Capital LLC Increases Stock Position in Sylvamo Co. (NYSE:SLVM)

FORA Capital LLC raised its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 13.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,523 shares of the company’s stock after acquiring an additional 1,377 shares during the quarter. FORA Capital LLC’s holdings in Sylvamo were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after acquiring an additional 138,655 shares during the period. Simplicity Wealth LLC grew its position in shares of Sylvamo by 105.7% during the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after purchasing an additional 7,291 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Sylvamo by 80.4% in the second quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company’s stock worth $1,590,000 after purchasing an additional 10,332 shares during the period. Summit Global Investments bought a new stake in Sylvamo during the second quarter valued at $1,170,000. Finally, International Assets Investment Management LLC boosted its stake in Sylvamo by 6,693.0% during the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock valued at $5,931,000 after buying an additional 68,068 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Performance

Shares of NYSE SLVM opened at $91.26 on Friday. The stock’s 50-day moving average is $86.33 and its 200 day moving average is $77.08. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 14.19 and a beta of 1.08. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. During the same period last year, the firm posted $1.70 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.97%. Sylvamo’s payout ratio is 27.99%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLVM. Royal Bank of Canada raised their price target on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Bank of America lifted their target price on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Sidoti started coverage on shares of Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target on the stock.

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.