Exchange Traded Concepts LLC Makes New $990,000 Investment in Sylvamo Corporation (NYSE:SLVM)

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

A number of other large investors have also recently made changes to their positions in the stock. CX Institutional grew its holdings in shares of Sylvamo by 9.0% during the first quarter. CX Institutional now owns 21,133 shares of the company's stock valued at $1,417,000 after buying an additional 1,748 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Sylvamo by 4,076.8% during the first quarter. Harbor Capital Advisors Inc. now owns 10,066 shares of the company's stock valued at $675,000 after buying an additional 9,825 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Sylvamo during the first quarter valued at $200,000. Wedge Capital Management L L P NC grew its holdings in shares of Sylvamo by 19.3% during the first quarter. Wedge Capital Management L L P NC now owns 23,081 shares of the company's stock valued at $1,548,000 after buying an additional 3,729 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Sylvamo by 4,459.2% during the first quarter. GAMMA Investing LLC now owns 30,182 shares of the company's stock valued at $2,024,000 after buying an additional 29,520 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Sylvamo Stock Performance

NYSE SLVM traded up $0.60 on Monday, reaching $50.74. 270,637 shares of the company's stock traded hands, compared to its average volume of 328,962. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 1.97 and a beta of 1.07. The stock has a 50 day moving average price of $55.82 and a 200-day moving average price of $67.30. Sylvamo Corporation has a fifty-two week low of $50.01 and a fifty-two week 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.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results 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). The business had revenue of $821.00 million for the quarter, compared to analyst estimates of $819.61 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company's revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Equities research analysts predict that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be given a $0.45 dividend. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.55%. Sylvamo's dividend payout ratio (DPR) is currently 26.32%.

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.