Balyasny Asset Management L.P. Acquires Shares of 28,275 Sylvamo Co. (NYSE:SLVM)

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

A number of other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock worth $49,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company's stock worth $52,000 after buying an additional 201 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company's stock worth $58,000 after buying an additional 214 shares during the last quarter. Covestor Ltd lifted its holdings in Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock worth $62,000 after buying an additional 641 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Sylvamo by 80.2% in the 4th quarter. KBC Group NV now owns 1,836 shares of the company's stock valued at $145,000 after acquiring an additional 817 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction 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 transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at $8,591,575.16. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.74% of the company's stock.

Sylvamo Stock Performance

NYSE:SLVM traded down $0.54 during mid-day trading on Thursday, reaching $55.97. 324,612 shares of the stock were exchanged, compared to its average volume of 330,636. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $2.28 billion, a P/E ratio of 7.76, a P/E/G ratio of 2.23 and a beta of 1.18. The company has a 50 day simple moving average of $61.63 and a 200-day simple moving average of $74.49. Sylvamo Co. has a 1 year low of $51.60 and a 1 year high of $98.02.

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

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Tuesday, April 8th. Sylvamo's dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada dropped their price target on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Monday.

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.