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

Allspring Global Investments Holdings LLC reduced its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 14.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 79,164 shares of the company's stock after selling 13,142 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.19% of Sylvamo worth $5,345,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its holdings in Sylvamo by 27.3% during the 1st quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company's stock worth $418,000 after purchasing an additional 1,336 shares in the last quarter. Deutsche Bank AG grew its holdings in Sylvamo by 48.0% during the fourth quarter. Deutsche Bank AG now owns 31,474 shares of the company's stock valued at $2,487,000 after purchasing an additional 10,204 shares during the period. Squarepoint Ops LLC bought a new position in Sylvamo during the fourth quarter valued at $372,000. Bank of Montreal Can lifted its position in shares of Sylvamo by 10.3% during the fourth quarter. Bank of Montreal Can now owns 6,304 shares of the company's stock worth $498,000 after acquiring an additional 587 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Sylvamo by 5.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 51,041 shares of the company's stock worth $4,033,000 after acquiring an additional 2,477 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sylvamo Stock Up 2.1%

Shares of SLVM traded up $1.06 during mid-day trading on Tuesday, reaching $52.13. The company had a trading volume of 71,275 shares, compared to its average volume of 322,097. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64. The firm has a 50-day moving average price of $54.16 and a 200 day moving average price of $64.88. Sylvamo Corporation has a 52 week low of $49.93 and a 52 week high of $98.02. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 2.09 and a beta of 1.01.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $821.00 million during the quarter, compared to analysts' expectations of $819.61 million. Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. Sylvamo's revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. On average, sell-side analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, July 8th. Sylvamo's dividend 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.