Algert Global LLC Increases Stock Position in Sylvamo Corporation $SLVM

Key Points

• Algert Global LLC increased its stake in Sylvamo Corporation by 63.6%, acquiring an additional 12,240 shares, bringing its total holdings to 31,494 shares worth approximately $2.1 million.
• Analysts have set a new average price target of $71.00 for Sylvamo, with mixed ratings including one Buy, one Hold, and two Sell ratings, reflecting varied confidence in the company's performance.
• Sylvamo's recent quarterly earnings showed EPS of $0.37 which was below the expected $0.47, alongside a 14.9% year-over-year revenue decline.

Algert Global LLC raised its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 63.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,494 shares of the company's stock after purchasing an additional 12,240 shares during the period. Algert Global LLC owned 0.08% of Sylvamo worth $2,112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Citizens Bank & Trust Co. purchased a new position in Sylvamo during the first quarter valued at $200,000. NDVR Inc. raised its position in shares of Sylvamo by 9.2% in the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after buying an additional 268 shares during the last quarter. Corton Capital Inc. acquired a new stake in shares of Sylvamo in the fourth quarter valued at about $258,000. James Investment Research Inc. acquired a new stake in shares of Sylvamo in the first quarter valued at about $251,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Sylvamo in the first quarter valued at about $263,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Trading Up 2.0%

Sylvamo stock traded up $0.88 during midday trading on Wednesday, hitting $45.38. 787,580 shares of the stock were exchanged, compared to its average volume of 506,751. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 2.50 and a beta of 1.00. The stock's 50-day simple moving average is $48.13 and its 200 day simple moving average is $56.86. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.10). The company had revenue of $794.00 million for the quarter, compared to analysts' expectations of $826.60 million. Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The company's quarterly revenue was down 14.9% compared to the same quarter last year. During the same period last year, the business earned $1.98 EPS. On average, equities analysts anticipate that Sylvamo Corporation will post 7.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SLVM. Zacks Research upgraded shares of Sylvamo to a "strong sell" rating in a research report on Monday, August 11th. Bank of America reduced their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada set a $49.00 target price on shares of Sylvamo and gave the company a "sector perform" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $71.00.

About Sylvamo

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.