Sylvamo Corporation (NYSE:SLVM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in Sylvamo Corporation (NYSE:SLVM - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,541 shares of the company's stock after selling 20,146 shares during the period. Bank of New York Mellon Corp owned 0.90% of Sylvamo worth $24,651,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SLVM. First Trust Advisors LP raised its stake in Sylvamo by 39.7% during the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock valued at $93,045,000 after acquiring an additional 334,792 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Sylvamo by 15.2% during the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock valued at $80,289,000 after purchasing an additional 134,066 shares during the period. Millennium Management LLC increased its holdings in shares of Sylvamo by 185.1% during the fourth quarter. Millennium Management LLC now owns 144,431 shares of the company's stock valued at $11,413,000 after purchasing an additional 93,767 shares during the period. Norges Bank acquired a new position in shares of Sylvamo during the fourth quarter valued at $6,505,000. Finally, Invesco Ltd. increased its holdings in shares of Sylvamo by 27.5% during the fourth quarter. Invesco Ltd. now owns 375,231 shares of the company's stock valued at $29,651,000 after purchasing an additional 80,895 shares during the period. Institutional investors own 91.16% of the company's stock.

Sylvamo Price Performance

Shares of SLVM traded down $0.93 during midday trading on Monday, reaching $47.93. The stock had a trading volume of 290,127 shares, compared to its average volume of 325,462. Sylvamo Corporation has a 52 week low of $47.89 and a 52 week high of $98.02. 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 firm's 50 day moving average price is $52.74 and its 200-day moving average price is $63.04. The company has a market capitalization of $1.95 billion, a P/E ratio of 7.01, a P/E/G ratio of 1.92 and a beta of 1.01.

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

Sylvamo Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Tuesday, July 8th. Sylvamo's payout ratio is 26.32%.

Analyst Upgrades and Downgrades

SLVM has been the topic of a number of research analyst reports. Bank of America lowered their price target on Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a report on Wednesday, July 9th. Royal Bank Of Canada lowered their price target on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th.

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.