CX Institutional Raises Position in Sylvamo Corporation $SLVM

Key Points

• CX Institutional increased its stake in Sylvamo Corporation by 38.5% in Q2, owning 29,278 shares valued at approximately $1.47 million.
• Sylvamo recently reported an earnings miss with a net revenue decrease of 14.9% year-over-year, posting $0.37 EPS compared to the expected $0.47.
• A quarterly dividend of $0.45 will be paid on October 17th, representing an annualized yield of 4.2% with a payout ratio of 34.42%.

CX Institutional increased its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 38.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,278 shares of the company's stock after purchasing an additional 8,145 shares during the quarter. CX Institutional owned approximately 0.07% of Sylvamo worth $1,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLVM. Principal Financial Group Inc. lifted its position in Sylvamo by 1.6% during the first quarter. Principal Financial Group Inc. now owns 185,620 shares of the company's stock valued at $12,450,000 after buying an additional 2,958 shares during the period. Jane Street Group LLC increased its stake in shares of Sylvamo by 248.4% in the 1st quarter. Jane Street Group LLC now owns 174,648 shares of the company's stock worth $11,714,000 after acquiring an additional 124,521 shares in the last quarter. CWA Asset Management Group LLC lifted its position in Sylvamo by 27.3% during the 1st quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company's stock valued at $418,000 after acquiring an additional 1,336 shares during the period. Squarepoint Ops LLC bought a new stake in Sylvamo during the fourth quarter worth about $372,000. Finally, Strs Ohio bought a new stake in Sylvamo during the first quarter worth about $838,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Price Performance

Shares of SLVM opened at $42.66 on Friday. Sylvamo Corporation has a twelve month low of $37.51 and a twelve month high of $98.02. The company has a market capitalization of $1.72 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 2.40 and a beta of 1.00. The firm has a 50 day moving average of $45.23 and a 200 day moving average of $53.11. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80.

Sylvamo (NYSE:SLVM - Get Free Report) last issued 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 analysts' expectations of $826.60 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The business's revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.98 earnings per share. As a group, equities research analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, October 3rd. Sylvamo's dividend payout ratio (DPR) is presently 34.42%.

Analysts Set New Price Targets

SLVM has been the subject of a number of analyst reports. Bank of America decreased their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 price objective on Sylvamo and gave the company a "sector perform" rating in a research report on Monday, August 11th. Finally, Zacks Research raised Sylvamo to a "strong sell" rating in a report on Monday, August 11th. 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 company's stock. According to MarketBeat.com, Sylvamo presently has a consensus rating of "Reduce" and a consensus price target 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.

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