Millennium Management LLC Has $11.41 Million Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Millennium Management LLC boosted its position in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 185.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,431 shares of the company's stock after purchasing an additional 93,767 shares during the period. Millennium Management LLC owned 0.35% of Sylvamo worth $11,413,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SLVM. First Trust Advisors LP boosted its position in Sylvamo by 39.7% during the fourth quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock valued at $93,045,000 after purchasing an additional 334,792 shares during the last quarter. American Century Companies Inc. boosted its position in Sylvamo by 15.2% during the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock valued at $80,289,000 after purchasing an additional 134,066 shares during the last quarter. Norges Bank acquired a new stake in Sylvamo during the fourth quarter valued at $6,505,000. Invesco Ltd. boosted its position in Sylvamo by 27.5% during the fourth quarter. Invesco Ltd. now owns 375,231 shares of the company's stock valued at $29,651,000 after purchasing an additional 80,895 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Sylvamo by 16.6% during the fourth quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company's stock valued at $40,139,000 after purchasing an additional 72,226 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Insiders Place Their Bets

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

Sylvamo Stock Up 1.6%

Shares of NYSE:SLVM traded up $0.85 on Thursday, reaching $55.30. The company had a trading volume of 39,274 shares, compared to its average volume of 361,346. Sylvamo Co. has a twelve month low of $51.60 and a twelve month high of $98.02. The stock has a 50-day moving average price of $59.67 and a 200 day moving average price of $72.25. The stock has a market capitalization of $2.25 billion, a P/E ratio of 7.67, a P/E/G ratio of 2.23 and a beta of 1.18. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. During the same period in the prior year, the firm earned $1.07 EPS. Sylvamo's quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts expect that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.25%. Sylvamo's dividend payout ratio is currently 26.32%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reduced their price objective on 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 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.