GAMMA Investing LLC Acquires 29,520 Shares of Sylvamo Corporation (NYSE:SLVM)

GAMMA Investing LLC boosted its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 4,459.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,182 shares of the company's stock after buying an additional 29,520 shares during the quarter. GAMMA Investing LLC owned approximately 0.07% of Sylvamo worth $2,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock valued at $49,000 after acquiring an additional 403 shares during the last quarter. Covestor Ltd increased its holdings in Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after purchasing an additional 641 shares during the period. Steward Partners Investment Advisory LLC raised its position in Sylvamo by 12.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock valued at $159,000 after purchasing an additional 218 shares during the last quarter. DRW Securities LLC purchased a new stake in Sylvamo in the 4th quarter worth approximately $225,000. Finally, Vestcor Inc purchased a new stake in Sylvamo in the 4th quarter worth approximately $246,000. Hedge funds and other institutional investors own 91.16% of the company's stock.

Wall Street Analyst Weigh In

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

Sylvamo Trading Down 1.7%

Shares of NYSE SLVM traded down $0.86 during midday trading on Tuesday, hitting $50.62. 219,344 shares of the company traded hands, compared to its average volume of 332,522. Sylvamo Corporation has a 12-month low of $50.37 and a 12-month high of $98.02. The firm has a market cap of $2.06 billion, a P/E ratio of 7.40, a P/E/G ratio of 2.03 and a beta of 1.07. The stock has a 50-day moving average price of $56.61 and a 200 day moving average price of $68.59. 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 for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $821.00 million for the quarter, compared to analysts' expectations of $819.61 million. Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. The firm's revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. As a group, analysts expect that Sylvamo Corporation will post 7.45 earnings per share for the current 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 issued a $0.45 dividend. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 3.56%. Sylvamo's dividend payout ratio (DPR) is 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.