Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in Sylvamo Corporation (NYSE:SLVM)

Key Points

• Empirical Wealth Management invested approximately $688,000 in Sylvamo Corporation by acquiring over 10,000 shares during the first quarter.
• Sylvamo's stock recently saw a 1.9% decline, with its shares trading at $45.19, significantly down from its yearly high of $98.02.
• The company's latest quarterly earnings reported $0.68 EPS, which fell short of analysts' expectations of $0.70, alongside a 9.3% revenue drop compared to the previous year.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,255 shares of the company's stock, valued at approximately $688,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Summit Investment Advisors Inc. boosted its stake in shares of Sylvamo by 5.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,639 shares of the company's stock worth $288,000 after acquiring an additional 193 shares during the period. MorganRosel Wealth Management LLC lifted its position in shares of Sylvamo by 1.3% during the 1st quarter. MorganRosel Wealth Management LLC now owns 17,472 shares of the company's stock valued at $1,172,000 after acquiring an additional 223 shares during the period. NDVR Inc. lifted its position in shares of Sylvamo by 9.2% during the 4th quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after acquiring an additional 268 shares during the period. LPL Financial LLC increased its stake in shares of Sylvamo by 1.9% in 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 last quarter. Finally, Perigon Wealth Management LLC lifted its position in shares of Sylvamo by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 9,233 shares of the company's stock worth $619,000 after buying an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SLVM shares. Bank of America dropped their price target 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 reduced their price objective on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th.

Sylvamo Trading Up 1.2%

SLVM traded up $0.57 on Thursday, hitting $47.97. 547,704 shares of the company were exchanged, compared to its average volume of 339,975. The stock has a market capitalization of $1.95 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00. Sylvamo Corporation has a 12 month low of $44.49 and a 12 month high of $98.02. The firm has a fifty day simple moving average of $50.72 and a two-hundred day simple moving average of $60.53. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64.

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

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 3.8%. Sylvamo's payout ratio is currently 26.32%.

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.