Allspring Global Investments Holdings LLC Has $5.35 Million Stake in Sylvamo Corporation (NYSE:SLVM)

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

A number of other hedge funds also recently made changes to their positions in the stock. Summit Investment Advisors Inc. boosted its position in Sylvamo by 5.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,639 shares of the company's stock valued at $288,000 after acquiring an additional 193 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Sylvamo by 12.2% during the 4th 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. NDVR Inc. grew its stake in Sylvamo by 9.2% during the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after purchasing an additional 268 shares during the period. LPL Financial LLC increased its holdings in Sylvamo by 1.9% in the fourth quarter. LPL Financial LLC now owns 15,874 shares of the company's stock worth $1,254,000 after purchasing an additional 299 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Sylvamo by 0.4% in the fourth quarter. Swiss National Bank now owns 68,500 shares of the company's stock worth $5,413,000 after purchasing an additional 300 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reduced their price objective on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th.

Sylvamo Stock Down 2.8%

Shares of SLVM stock traded down $1.50 on Monday, reaching $51.51. 287,043 shares of the company were exchanged, compared to its average volume of 323,095. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04. The company has a 50-day moving average of $54.33 and a 200-day moving average of $65.09. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 2.09 and a beta of 1.01. Sylvamo Corporation has a one year low of $49.93 and a one year high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $821.00 million during the quarter, compared to the consensus estimate of $819.61 million. Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. The firm's revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. Analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 3.49%. Sylvamo's dividend payout ratio (DPR) is presently 26.32%.

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.