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Convergence Investment Partners LLC Has $328,000 Position in Sylvamo Corporation (NYSE:SLVM)

Sylvamo logo with Basic Materials background

Convergence Investment Partners LLC lowered its stake in Sylvamo Corporation (NYSE:SLVM - Free Report) by 65.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,897 shares of the company's stock after selling 9,363 shares during the period. Convergence Investment Partners LLC's holdings in Sylvamo were worth $328,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SLVM. Raymond James Financial Inc. bought a new position in shares of Sylvamo in the fourth quarter valued at $3,632,000. Quantbot Technologies LP acquired a new stake in Sylvamo during the 4th quarter valued at $647,000. KLP Kapitalforvaltning AS acquired a new stake in Sylvamo during the 4th quarter valued at $830,000. LPL Financial LLC raised its stake in Sylvamo by 1.9% during the 4th quarter. LPL Financial LLC now owns 15,874 shares of the company's stock valued at $1,254,000 after purchasing an additional 299 shares during the period. Finally, Prudential Financial Inc. raised its stake in Sylvamo by 0.8% during the 4th quarter. Prudential Financial Inc. now owns 133,168 shares of the company's stock valued at $10,523,000 after purchasing an additional 1,018 shares during the period. Institutional investors own 91.16% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SLVM shares. Royal Bank Of Canada cut their target price on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Bank of America cut their target price 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.

Check Out Our Latest Stock Analysis on SLVM

Sylvamo Stock Up 1.1%

Shares of NYSE SLVM traded up $0.53 during mid-day trading on Friday, reaching $49.52. The company had a trading volume of 177,647 shares, compared to its average volume of 286,417. Sylvamo Corporation has a twelve month low of $47.85 and a twelve month high of $98.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64. The stock has a market capitalization of $2.02 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 1.95 and a beta of 1.01. The stock's 50 day moving average is $52.10 and its 200-day moving average is $62.14.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. During the same period last year, the company posted $1.07 earnings per share. The company's revenue was down 9.3% compared to the same quarter last year. As a group, equities analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's dividend payout ratio is presently 26.32%.

Sylvamo Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sylvamo (NYSE:SLVM)

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