Bank of New York Mellon Corp Reduces Holdings in Sylvamo Corporation (NYSE:SLVM)

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 disclosure with the Securities & Exchange Commission. The firm owned 367,541 shares of the company's stock after selling 20,146 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.90% of Sylvamo worth $24,651,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Covestor Ltd grew its stake in Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after acquiring an additional 641 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Sylvamo during the 1st quarter valued at about $200,000. DRW Securities LLC purchased a new stake in Sylvamo during the 4th quarter valued at about $225,000. NDVR Inc. grew its stake in Sylvamo by 9.2% during the 4th quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after acquiring an additional 268 shares in the last quarter. Finally, Corton Capital Inc. purchased a new stake in Sylvamo during the 4th quarter valued at about $258,000. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Stock Down 3.3%

Sylvamo stock traded down $1.67 during mid-day trading on Friday, reaching $48.86. 393,959 shares of the company's stock were exchanged, compared to its average volume of 324,867. The company has a market cap of $1.99 billion, a P/E ratio of 7.14, a P/E/G ratio of 1.99 and a beta of 1.01. Sylvamo Corporation has a twelve month low of $48.68 and a twelve month high of $98.02. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 0.87. The company has a fifty day moving average of $52.82 and a 200-day moving average of $63.47.

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

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's dividend payout ratio is presently 26.32%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLVM. Bank of America decreased their target price on shares of 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 decreased their target price 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 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.