Harbor Capital Advisors Inc. Acquires 9,825 Shares of Sylvamo Co. (NYSE:SLVM)

Harbor Capital Advisors Inc. grew its holdings in Sylvamo Co. (NYSE:SLVM - Free Report) by 4,076.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,066 shares of the company's stock after buying an additional 9,825 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Sylvamo were worth $675,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SLVM. Smartleaf Asset Management LLC increased 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 in the last quarter. Covestor Ltd increased its position in shares of Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock worth $62,000 after purchasing an additional 641 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Sylvamo by 12.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock worth $159,000 after purchasing an additional 218 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Sylvamo during the 1st quarter worth about $200,000. Finally, DRW Securities LLC acquired a new stake in shares of Sylvamo during the 4th quarter worth about $225,000. Institutional investors and hedge funds own 91.16% of the company's stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada dropped their target price 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 Price Performance

SLVM traded down $2.12 during midday trading on Friday, hitting $50.59. The company had a trading volume of 259,534 shares, compared to its average volume of 333,284. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. The company has a market capitalization of $2.06 billion, a PE ratio of 7.02, a P/E/G ratio of 2.23 and a beta of 1.07. Sylvamo Co. has a twelve month low of $50.37 and a twelve month high of $98.02. The firm's 50-day simple moving average is $56.93 and its 200-day simple moving average is $69.15.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share 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 analyst estimates of $819.61 million. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. The company's revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. Equities research analysts predict that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business 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. This represents a $1.80 annualized dividend and a yield of 3.56%. The ex-dividend date is Tuesday, July 8th. Sylvamo's payout ratio is presently 26.32%.

Insider Buying and Selling at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the transaction, the chief executive officer now owns 131,894 shares of the company's stock, valued at approximately $8,591,575.16. This trade represents a 13.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.74% of the company's stock.

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.