Balyasny Asset Management L.P. Acquires New Position in Sylvamo Co. (NYSE:SLVM)

Balyasny Asset Management L.P. acquired a new position in Sylvamo Co. (NYSE:SLVM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,275 shares of the company's stock, valued at approximately $2,234,000. Balyasny Asset Management L.P. owned about 0.07% of Sylvamo as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company's stock valued at $52,000 after buying an additional 201 shares during the period. Blue Trust Inc. lifted its stake in Sylvamo by 224.6% during the fourth quarter. Blue Trust Inc. now owns 11,284 shares of the company's stock worth $969,000 after purchasing an additional 7,808 shares during the last quarter. Barclays PLC lifted its stake in Sylvamo by 324.6% during the third quarter. Barclays PLC now owns 62,435 shares of the company's stock worth $5,360,000 after purchasing an additional 47,730 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Sylvamo by 10.3% in the fourth quarter. Bank of Montreal Can now owns 6,304 shares of the company's stock worth $498,000 after buying an additional 587 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of Sylvamo by 7.0% in the fourth quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company's stock worth $363,000 after buying an additional 300 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reduced their price target on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th.

Insider Activity at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at $8,591,575.16. The trade was a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Sylvamo Price Performance

Sylvamo stock traded up $0.35 during mid-day trading on Friday, hitting $56.28. The stock had a trading volume of 258,792 shares, compared to its average volume of 331,625. The firm has a market capitalization of $2.29 billion, a P/E ratio of 7.81, a P/E/G ratio of 2.23 and a beta of 1.18. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The firm's 50 day moving average is $61.24 and its 200 day moving average is $73.93. Sylvamo Co. has a one year low of $51.60 and a one year high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $821.00 million for the quarter, compared to the consensus estimate of $819.61 million. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. The company's revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. On average, sell-side analysts forecast that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's payout ratio is 26.32%.

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.