Charles Schwab Investment Management Inc. Has $37.01 Million Stake in 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. decreased its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 7.5% in the first quarter, according to its most recent Form 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 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP grew its stake in shares of Sylvamo by 39.7% during the fourth 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. Vanguard Group Inc. raised its position in shares of Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock valued at $200,843,000 after acquiring an additional 149,326 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Sylvamo by 351.8% during the 1st quarter. Victory Capital Management Inc. now owns 166,844 shares of the company's stock valued at $11,190,000 after acquiring an additional 129,916 shares in the last quarter. Millennium Management LLC grew its stake in Sylvamo by 185.1% during the 4th quarter. Millennium Management LLC now owns 144,431 shares of the company's stock worth $11,413,000 after buying an additional 93,767 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Sylvamo during the 4th quarter worth $4,752,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Stock Down 4.1%

Shares of NYSE:SLVM traded down $1.7690 during midday trading on Thursday, hitting $41.4810. 838,642 shares of the stock were exchanged, compared to its average volume of 357,269. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 1.54. Sylvamo Corporation has a 52-week low of $37.51 and a 52-week high of $98.02. The business's fifty day simple moving average is $48.82 and its two-hundred day simple moving average is $58.02. The company has a market capitalization of $1.67 billion, a PE ratio of 7.93, a P/E/G ratio of 2.46 and a beta of 1.00.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank Of Canada set a $49.00 price target on Sylvamo and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Zacks Research upgraded Sylvamo to a "strong sell" rating in a report on Monday, August 11th. Finally, Bank of America decreased their target price on Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $71.00.

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.