Charles Schwab Investment Management Inc. Sells 44,932 Shares of Sylvamo Corporation $SLVM

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Sylvamo Corporation by 7.5%, selling 44,932 shares, and now holds approximately 551,745 shares worth $37 million.
• Sylvamo Corporation reported earnings of $0.37 per share for the last quarter, missing analyst expectations by $0.10, with a revenue drop of 14.9% year-over-year.
• Analyst ratings for Sylvamo have varied, with Zacks issuing a "strong sell" recommendation and Bank of America lowering its price target to $64.00.

Charles Schwab Investment Management Inc. reduced its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 551,745 shares of the company's stock after selling 44,932 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.35% of Sylvamo worth $37,006,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. acquired a new position in shares of Sylvamo in the first quarter worth $200,000. James Investment Research Inc. acquired a new position in shares of Sylvamo in the first quarter worth $251,000. NDVR Inc. increased its stake in shares of Sylvamo by 9.2% in the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after acquiring an additional 268 shares during the last quarter. Corton Capital Inc. acquired a new position in shares of Sylvamo in the fourth quarter worth $258,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Sylvamo in the first quarter worth $263,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Stock Up 7.0%

Sylvamo stock traded up $2.91 during mid-day trading on Friday, hitting $44.49. 557,529 shares of the company's stock were exchanged, compared to its average volume of 458,591. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.80 billion, a P/E ratio of 8.51, a P/E/G ratio of 2.50 and a beta of 1.00. Sylvamo Corporation has a 1-year low of $37.51 and a 1-year high of $98.02. The stock has a 50 day moving average of $48.48 and a two-hundred day moving average of $57.40.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SLVM shares. Zacks Research raised shares of Sylvamo to a "strong sell" rating in a research note on Monday, August 11th. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Finally, Bank of America dropped their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $71.00.

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.