Algert Global LLC Raises 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 first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,494 shares of the company's stock after purchasing an additional 12,240 shares during the quarter. Algert Global LLC owned about 0.08% of Sylvamo worth $2,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. grew its holdings in shares of Sylvamo by 164.8% during the first quarter. Raymond James Financial Inc. now owns 121,740 shares of the company's stock valued at $8,165,000 after buying an additional 75,771 shares during the last quarter. American Century Companies Inc. lifted its position in Sylvamo by 10.6% during the 1st quarter. American Century Companies Inc. now owns 1,123,686 shares of the company's stock worth $75,366,000 after acquiring an additional 107,622 shares during the period. Brandywine Global Investment Management LLC grew its stake in Sylvamo by 16.5% during the 1st quarter. Brandywine Global Investment Management LLC now owns 147,902 shares of the company's stock valued at $9,920,000 after purchasing an additional 20,953 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Sylvamo by 17.4% in the first quarter. Neuberger Berman Group LLC now owns 5,712 shares of the company's stock valued at $383,000 after purchasing an additional 846 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Sylvamo by 73.7% in the first quarter. Russell Investments Group Ltd. now owns 20,008 shares of the company's stock worth $1,342,000 after purchasing an additional 8,486 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Stock Performance

Sylvamo stock traded up $2.91 during mid-day trading on Friday, hitting $44.49. The company had a trading volume of 557,529 shares, compared to its average volume of 477,585. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 2.50 and a beta of 1.00. Sylvamo Corporation has a 12-month low of $37.51 and a 12-month high of $98.02. The company's fifty day moving average is $48.48 and its 200-day moving average is $57.40. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80.

Sylvamo (NYSE:SLVM - Get Free Report) last posted 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). Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The firm had revenue of $794.00 million for the quarter, compared to analysts' expectations of $826.60 million. During the same period last year, the firm earned $1.98 earnings per share. Sylvamo's revenue for the quarter was down 14.9% compared to the same quarter last year. Equities research analysts predict that Sylvamo Corporation will post 7.45 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on SLVM. Royal Bank Of Canada set a $49.00 target price on Sylvamo and gave the stock a "sector perform" rating in a report on Monday, August 11th. Bank of America reduced their price target 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, Zacks Research raised shares of Sylvamo to a "strong sell" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Sylvamo has a consensus rating of "Reduce" and an average target price of $71.00.

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.