Jane Street Group LLC Raises Holdings in Sylvamo Corporation $SLVM

Key Points

• Jane Street Group LLC increased its stake in Sylvamo Corporation by 248.4% in the first quarter, now owning 174,648 shares valued at approximately $11.7 million.
• The stock has an average rating of "Reduce" from analysts, with a consensus target price of $71.00, following various downgrades and changes in price targets from major banks.
• Sylvamo reported a significant earnings miss for the last quarter, with an EPS of $0.37, falling short of the consensus estimate of $0.47, alongside a 14.9% year-over-year decline in revenue.

Jane Street Group LLC raised its holdings in Sylvamo Corporation (NYSE:SLVM - Free Report) by 248.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 174,648 shares of the company's stock after buying an additional 124,521 shares during the quarter. Jane Street Group LLC owned 0.43% of Sylvamo worth $11,714,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Sylvamo in the first quarter valued at approximately $61,000. First Citizens Bank & Trust Co. bought a new stake in shares of Sylvamo during the first quarter valued at approximately $200,000. NDVR Inc. increased its holdings in shares of Sylvamo by 9.2% during the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after acquiring an additional 268 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Sylvamo during the fourth quarter valued at approximately $258,000. Finally, James Investment Research Inc. bought a new stake in shares of Sylvamo during the first quarter valued at approximately $251,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Stock Performance

Shares of NYSE SLVM traded up $0.56 during trading on Friday, reaching $45.22. 53,587 shares of the stock traded hands, compared to its average volume of 362,239. Sylvamo Corporation has a 52-week low of $37.51 and a 52-week 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 company has a 50-day moving average of $47.51 and a 200-day moving average of $55.71. The stock has a market capitalization of $1.83 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.00.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on SLVM shares. Zacks Research upgraded Sylvamo to a "strong sell" rating in a report on Monday, August 11th. Bank of America decreased their price target on Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada set a $49.00 price target on Sylvamo and gave the stock a "sector perform" rating in a 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 issued a Sell rating to the stock. According to MarketBeat.com, Sylvamo has an average rating of "Reduce" and a consensus price target of $71.00.

Sylvamo Company 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.