HighTower Advisors LLC Decreases Stake in Sylvamo Corporation $SLVM

HighTower Advisors LLC lowered its stake in Sylvamo Corporation (NYSE:SLVM - Free Report) by 70.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,760 shares of the company's stock after selling 13,713 shares during the period. HighTower Advisors LLC's holdings in Sylvamo were worth $386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLVM. Vanguard Group Inc. raised its holdings in shares of Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock worth $200,843,000 after buying an additional 149,326 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Sylvamo by 351.8% during the first quarter. Victory Capital Management Inc. now owns 166,844 shares of the company's stock worth $11,190,000 after purchasing an additional 129,916 shares during the last quarter. Nuveen LLC purchased a new position in shares of Sylvamo during the first quarter worth $6,371,000. Millennium Management LLC raised its holdings in shares of Sylvamo by 185.1% during the fourth quarter. Millennium Management LLC now owns 144,431 shares of the company's stock worth $11,413,000 after purchasing an additional 93,767 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Sylvamo during the fourth quarter worth $4,752,000. Hedge funds and other institutional investors own 91.16% of the company's stock.

Sylvamo Price Performance

Shares of NYSE SLVM traded up $0.47 during trading on Thursday, hitting $44.55. The company had a trading volume of 275,356 shares, compared to its average volume of 364,135. The stock has a fifty day simple moving average of $47.63 and a two-hundred day simple moving average of $55.90. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $98.02. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 2.59 and a beta of 1.00. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). The company had revenue of $794.00 million during the quarter, compared to analyst estimates of $826.60 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The firm's revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.98 EPS. On average, research analysts expect that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SLVM. Royal Bank Of Canada set a $49.00 target price on shares of Sylvamo and gave the stock a "sector perform" rating in a report on Monday, August 11th. Bank of America reduced their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a report on Wednesday, July 9th. Finally, Zacks Research upgraded shares of Sylvamo to a "strong sell" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $71.00.

Sylvamo 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.