Sylvamo Corporation (NYSE:SLVM) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 4,076.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,066 shares of the company's stock after buying an additional 9,825 shares during the period. Harbor Capital Advisors Inc.'s holdings in Sylvamo were worth $675,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. LSV Asset Management lifted its stake in shares of Sylvamo by 3.8% in the fourth quarter. LSV Asset Management now owns 1,791,684 shares of the company's stock worth $141,579,000 after buying an additional 66,180 shares in the last quarter. First Trust Advisors LP raised its holdings in Sylvamo by 39.7% in the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock valued at $93,045,000 after acquiring an additional 334,792 shares during the last quarter. American Century Companies Inc. lifted its stake in Sylvamo by 15.2% in the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock worth $80,289,000 after purchasing an additional 134,066 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sylvamo by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 923,792 shares of the company's stock worth $73,011,000 after purchasing an additional 7,795 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Sylvamo by 16.6% during the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company's stock worth $40,139,000 after purchasing an additional 72,226 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada cut their price target 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 trading on Tuesday, hitting $50.62. 219,344 shares of the company were exchanged, compared to its average volume of 332,522. The company has a fifty 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. The firm has a market capitalization of $2.06 billion, a PE ratio of 7.40, a P/E/G ratio of 2.03 and a beta of 1.07. Sylvamo Corporation has a 12-month low of $50.37 and a 12-month high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.68 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 firm had revenue of $821.00 million for the quarter, compared to analysts' expectations of $819.61 million. During the same period last year, the firm earned $1.07 earnings per share. Sylvamo's revenue for the quarter was down 9.3% on a year-over-year basis. As a group, equities research analysts expect that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's payout ratio is presently 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.