Sylvamo Corporation $SLVM Shares Acquired by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC increased its stake in Sylvamo Corporation to 63,000 shares, representing a 38.5% boost during the first quarter, bringing its total value to approximately $4.2 million.
• Several hedge funds have recently adjusted their holdings, with institutional investors now owning 91.16% of Sylvamo's stock.
• Sylvamo reported earnings per share of $0.37 for the last quarter, missing analysts' estimates, and experienced a 14.9% decline in revenue year-over-year.

Bridgeway Capital Management LLC raised its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 38.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 63,000 shares of the company's stock after purchasing an additional 17,500 shares during the period. Bridgeway Capital Management LLC owned 0.15% of Sylvamo worth $4,225,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SLVM. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Sylvamo during the 1st quarter worth $61,000. First Citizens Bank & Trust Co. purchased a new position in shares of Sylvamo during the 1st quarter worth $200,000. James Investment Research Inc. purchased a new position in shares of Sylvamo during the 1st quarter worth $251,000. NDVR Inc. raised its holdings in shares of Sylvamo by 9.2% during the 4th quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after acquiring an additional 268 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Sylvamo during the 1st quarter worth $263,000. Hedge funds and other institutional investors own 91.16% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America reduced 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. Zacks Research raised Sylvamo to a "strong sell" rating in a research report on Monday, August 11th. Finally, Royal Bank Of Canada set a $49.00 price objective on Sylvamo and gave the stock a "sector perform" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $71.00.

Sylvamo Trading Up 1.5%

NYSE SLVM traded up $0.67 during trading on Thursday, hitting $43.90. The stock had a trading volume of 44,142 shares, compared to its average volume of 360,348. The company has a market capitalization of $1.77 billion, a PE ratio of 8.40, a PEG ratio of 2.46 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average price of $46.93 and a 200 day moving average price of $54.99. Sylvamo Corporation has a twelve month low of $37.51 and a twelve month high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.10). Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The company had revenue of $794.00 million for the quarter, compared to analyst estimates of $826.60 million. During the same period in the prior year, the firm posted $1.98 earnings per share. The business's quarterly revenue was down 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that Sylvamo Corporation will post 7.45 earnings per share for the current year.

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.