Raymond James Financial Inc. Invests $3.63 Million in Sylvamo Co. (NYSE:SLVM)

Raymond James Financial Inc. bought a new stake in Sylvamo Co. (NYSE:SLVM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 45,969 shares of the company's stock, valued at approximately $3,632,000. Raymond James Financial Inc. owned approximately 0.11% of Sylvamo as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. increased its position in Sylvamo by 15.2% during the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock worth $80,289,000 after purchasing an additional 134,066 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Sylvamo by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 923,792 shares of the company's stock valued at $73,011,000 after buying an additional 7,795 shares during the period. Allianz Asset Management GmbH lifted its holdings in Sylvamo by 16.6% in the fourth quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company's stock valued at $40,139,000 after acquiring an additional 72,226 shares during the last quarter. Invesco Ltd. lifted its holdings in Sylvamo by 27.5% in the fourth quarter. Invesco Ltd. now owns 375,231 shares of the company's stock valued at $29,651,000 after acquiring an additional 80,895 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Sylvamo by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 182,662 shares of the company's stock worth $14,434,000 after acquiring an additional 7,194 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction that occurred on Monday, March 17th. The shares were 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. The trade was a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company's stock.

Sylvamo Trading Up 1.2 %

Shares of Sylvamo stock traded up $0.71 on Friday, reaching $59.81. The company had a trading volume of 32,112 shares, compared to its average volume of 326,372. The firm's 50 day moving average price is $63.76 and its two-hundred day moving average price is $76.25. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. Sylvamo Co. has a 52-week low of $54.94 and a 52-week high of $98.02. The firm has a market cap of $2.44 billion, a PE ratio of 8.29, a PEG ratio of 2.23 and a beta of 1.17.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, topping 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%. Sell-side analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a yield of 3.01%. Sylvamo's dividend payout ratio (DPR) is presently 24.97%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada decreased their price target on Sylvamo from $83.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th.

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.