Sylvamo Co. (NYSE:SLVM) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in Sylvamo Co. (NYSE:SLVM) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,185 shares of the company’s stock after selling 16,127 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sylvamo were worth $5,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in shares of Sylvamo during the 3rd quarter worth about $1,633,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sylvamo during the 3rd quarter worth about $3,046,000. Citigroup Inc. increased its position in shares of Sylvamo by 67.0% during the 3rd quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock worth $3,994,000 after purchasing an additional 18,657 shares during the last quarter. Algert Global LLC increased its position in shares of Sylvamo by 190.2% during the 3rd quarter. Algert Global LLC now owns 10,290 shares of the company’s stock worth $883,000 after purchasing an additional 6,744 shares during the last quarter. Finally, Pitcairn Co. acquired a new stake in shares of Sylvamo during the 3rd quarter worth about $303,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Stock Performance

NYSE SLVM opened at $65.13 on Monday. The company has a market cap of $2.64 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. The stock has a 50-day moving average of $73.03 and a two-hundred day moving average of $80.33. Sylvamo Co. has a 1-year low of $56.35 and a 1-year high of $98.02.

Sylvamo (NYSE:SLVM) last released its earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. As a group, analysts anticipate that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.76%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s dividend payout ratio is currently 24.97%.

Analysts Set New Price Targets

A number of analysts recently issued reports on SLVM shares. Bank of America reissued an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research report on Wednesday, December 11th. Royal Bank of Canada cut their price objective on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th.

Insider Activity

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the transaction, the chief executive officer now owns 131,894 shares in the company, valued at approximately $8,591,575.16. This trade represents a 13.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

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.