Allspring Global Investments Holdings LLC Sells 13,142 Shares of Sylvamo Corporation (NYSE:SLVM)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,164 shares of the company's stock after selling 13,142 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.19% of Sylvamo worth $5,345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new position in Sylvamo during the fourth quarter valued at approximately $1,286,000. Smartleaf Asset Management LLC lifted its holdings in Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock valued at $49,000 after purchasing an additional 403 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Sylvamo by 12.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock valued at $159,000 after purchasing an additional 218 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Sylvamo by 2.2% during the fourth quarter. Victory Capital Management Inc. now owns 36,928 shares of the company's stock valued at $2,918,000 after purchasing an additional 812 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Sylvamo by 1.7% during the fourth quarter. Assetmark Inc. now owns 26,413 shares of the company's stock valued at $2,087,000 after purchasing an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SLVM shares. Bank of America lowered their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a report on Wednesday. Royal Bank Of Canada lowered their price target on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th.

Sylvamo Price Performance

Shares of Sylvamo stock traded down $0.22 on Wednesday, hitting $51.83. 242,585 shares of the company traded hands, compared to its average volume of 323,680. The stock has a market capitalization of $2.11 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 2.05 and a beta of 1.01. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64. Sylvamo Corporation has a 52 week low of $49.93 and a 52 week high of $98.02. The business has a 50-day simple moving average of $53.84 and a 200 day simple moving average of $64.70.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share (EPS) 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 net margin of 7.71% and a return on equity of 32.60%. The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. Research analysts expect that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Tuesday, July 8th. Sylvamo's payout ratio is currently 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.