Exchange Traded Concepts LLC Buys Shares of 14,754 Sylvamo Corporation (NYSE:SLVM)

Exchange Traded Concepts LLC bought a new stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 14,754 shares of the company's stock, valued at approximately $990,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in shares of Sylvamo by 182.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock worth $49,000 after purchasing an additional 403 shares during the period. Covestor Ltd grew its stake in Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock worth $62,000 after buying an additional 641 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Sylvamo by 12.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock worth $159,000 after buying an additional 218 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in Sylvamo in the first quarter worth $200,000. Finally, DRW Securities LLC bought a new stake in Sylvamo in the fourth quarter valued at $225,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Royal Bank Of Canada lowered their price target on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th.

Sylvamo Stock Performance

Shares of NYSE:SLVM traded up $0.04 during trading hours on Friday, hitting $50.22. The stock had a trading volume of 846,596 shares, compared to its average volume of 334,610. The stock's fifty day simple moving average is $56.00 and its 200 day simple moving average is $67.88. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 1.97 and a beta of 1.07. 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 Corporation has a 1-year low of $50.01 and a 1-year high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share (EPS) 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 business had revenue of $821.00 million during the quarter, compared to the consensus estimate of $819.61 million. During the same period last year, the company earned $1.07 earnings per share. The business's quarterly revenue was down 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.58%. Sylvamo's payout ratio is 26.32%.

Sylvamo 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.