HighTower Advisors LLC Trims Position in Sylvamo Corporation $SLVM

HighTower Advisors LLC reduced its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 70.4% in the first quarter, according to its most recent filing with the SEC. 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 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock worth $200,843,000 after purchasing an additional 149,326 shares during the period. LSV Asset Management increased its position in shares of Sylvamo by 0.7% in the first quarter. LSV Asset Management now owns 1,804,055 shares of the company's stock valued at $120,998,000 after acquiring an additional 12,371 shares during the period. Allianz Asset Management GmbH increased its position in shares of Sylvamo by 6.8% in the first quarter. Allianz Asset Management GmbH now owns 542,288 shares of the company's stock valued at $36,371,000 after acquiring an additional 34,323 shares during the period. Northern Trust Corp increased its position in shares of Sylvamo by 6.9% in the fourth quarter. Northern Trust Corp now owns 403,900 shares of the company's stock valued at $31,916,000 after acquiring an additional 25,934 shares during the period. Finally, Royce & Associates LP increased its position in shares of Sylvamo by 12.2% in the first quarter. Royce & Associates LP now owns 385,234 shares of the company's stock valued at $25,838,000 after acquiring an additional 42,018 shares during the period. Hedge funds and other institutional investors own 91.16% of the company's stock.

Analyst Ratings Changes

SLVM has been the topic of a number of analyst reports. Zacks Research upgraded shares of Sylvamo to a "strong sell" rating in a research report on Monday, August 11th. Bank of America decreased their price objective on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada set a $49.00 price objective on shares of Sylvamo and gave the company a "sector perform" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $71.00.

Sylvamo Stock Up 1.5%

NYSE:SLVM traded up $0.67 during mid-day trading on Friday, hitting $45.33. 346,349 shares of the company's stock were exchanged, compared to its average volume of 516,013. Sylvamo Corporation has a one year low of $37.51 and a one year high of $98.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.54 and a quick ratio of 0.91. The business has a fifty day moving average price of $47.41 and a 200 day moving average price of $55.41. The company has a market cap of $1.83 billion, a PE ratio of 8.67, a P/E/G ratio of 2.55 and a beta of 1.00.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.10). The business had revenue of $794.00 million for the quarter, compared to the consensus estimate of $826.60 million. Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The company's revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. Equities analysts predict that Sylvamo Corporation will post 7.45 EPS for the current year.

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.