Sylvamo Corporation (NYSE:SLVM) Shares Purchased by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. increased its stake in Sylvamo Corporation by 52.1%, acquiring an additional 12,425 shares during the first quarter, now holding a total of 36,275 shares valued at approximately $2.43 million.
• A number of institutional investors, including LSV Asset Management and First Trust Advisors LP, have also boosted their holdings in Sylvamo, leading to a total ownership of 91.16% by institutional investors.
• The company reported a quarterly earnings miss with $0.68 earnings per share, below analysts' estimates of $0.70, alongside a year-over-year revenue decline of 9.3%.

Foster & Motley Inc. boosted its holdings in Sylvamo Corporation (NYSE:SLVM - Free Report) by 52.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,275 shares of the company's stock after buying an additional 12,425 shares during the quarter. Foster & Motley Inc. owned approximately 0.09% of Sylvamo worth $2,433,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLVM. Principal Financial Group Inc. increased its position in Sylvamo by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 185,620 shares of the company's stock valued at $12,450,000 after acquiring an additional 2,958 shares during the period. CWA Asset Management Group LLC increased its stake in Sylvamo by 27.3% in the 1st quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company's stock valued at $418,000 after buying an additional 1,336 shares during the period. Deutsche Bank AG lifted its stake in shares of Sylvamo by 48.0% in the 4th quarter. Deutsche Bank AG now owns 31,474 shares of the company's stock worth $2,487,000 after acquiring an additional 10,204 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Sylvamo in the fourth quarter valued at about $372,000. Finally, Bank of Montreal Can increased its stake in shares of Sylvamo by 10.3% during the fourth quarter. Bank of Montreal Can now owns 6,304 shares of the company's stock worth $498,000 after acquiring an additional 587 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Trading Up 1.1%

NYSE:SLVM traded up $0.49 during mid-day trading on Monday, reaching $45.74. The company's stock had a trading volume of 98,343 shares, compared to its average volume of 339,518. Sylvamo Corporation has a twelve month low of $44.49 and a twelve month high of $98.02. The company's fifty day simple moving average is $51.19 and its two-hundred day simple moving average is $60.94. The stock has a market cap of $1.86 billion, a P/E ratio of 6.69, a P/E/G ratio of 1.78 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04.

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). Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. During the same quarter last year, the business posted $1.07 EPS. Sylvamo's quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities analysts predict that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, July 8th. Sylvamo's dividend payout ratio is 26.32%.

Analyst Upgrades and Downgrades

SLVM has been the subject of a number of analyst reports. Royal Bank Of Canada cut their target price 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. Bank of America reduced their price objective on Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a report on Wednesday, July 9th.

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.