Bleakley Financial Group LLC Has $1.95 Million Stock Position in Sylvamo Corporation $SLVM

Key Points

• Bleakley Financial Group increased its Sylvamo stake by 297.9% in the fourth quarter, ending with 40,421 shares valued at about $1.95 million.
• Sylvamo’s latest quarterly results were weaker than expected, with EPS of -$0.53 versus a -$0.25 estimate, even though revenue of $755 million topped forecasts.
• The company declared a $0.45 quarterly dividend to be paid July 28, equal to a 4.6% yield, while analysts currently rate the stock a consensus Hold with a $54 price target.

Bleakley Financial Group LLC raised its holdings in Sylvamo Corporation (NYSE:SLVM - Free Report) by 297.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,421 shares of the company's stock after buying an additional 30,263 shares during the quarter. Bleakley Financial Group LLC owned 0.10% of Sylvamo worth $1,946,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Nomura Holdings Inc. grew its holdings in shares of Sylvamo by 34.1% during the 3rd quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company's stock worth $95,073,000 after purchasing an additional 546,336 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Sylvamo by 7.2% during the 3rd quarter. American Century Companies Inc. now owns 1,290,957 shares of the company's stock worth $57,086,000 after purchasing an additional 87,095 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Sylvamo by 12.5% during the 3rd quarter. Wasatch Advisors LP now owns 941,999 shares of the company's stock worth $41,655,000 after purchasing an additional 104,778 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Sylvamo during the 4th quarter worth approximately $33,777,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Sylvamo by 5.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 557,398 shares of the company's stock worth $24,648,000 after purchasing an additional 27,593 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Price Performance

Shares of SLVM stock opened at $39.39 on Friday. The stock's fifty day simple moving average is $40.87 and its 200 day simple moving average is $45.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.45 and a quick ratio of 0.81. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 0.60 and a beta of 0.91. Sylvamo Corporation has a one year low of $35.53 and a one year high of $56.80.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The company had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. Sylvamo's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, analysts expect that Sylvamo Corporation will post 2.32 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be given a $0.45 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $1.80 annualized dividend and a yield of 4.6%. Sylvamo's payout ratio is presently 71.15%.

Insider Transactions at Sylvamo

In other Sylvamo news, SVP Rodrigo Davoli sold 3,250 shares of Sylvamo stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.46, for a total value of $150,995.00. Following the completion of the transaction, the senior vice president owned 46,484 shares in the company, valued at approximately $2,159,646.64. The trade was a 6.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.81% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLVM. Weiss Ratings lowered Sylvamo from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Truist Financial began coverage on Sylvamo in a report on Monday, March 30th. They set a "buy" rating and a $54.00 price objective on the stock. Royal Bank Of Canada decreased their price objective on Sylvamo from $50.00 to $49.00 and set a "sector perform" rating on the stock in a report on Monday, May 11th. Finally, Zacks Research raised Sylvamo from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $54.00.

About Sylvamo

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.

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