Sylvamo Corporation (NYSE:SLVM) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has significantly reduced its holdings in Sylvamo Corporation by 75.2%, selling 1,352,421 shares and now owning 445,351 shares, valued at approximately $29.87 million.
• Sylvamo reported $0.68 earnings per share (EPS) for the last quarter, which missed analysts' expectations of $0.70 EPS, amidst a 9.3% revenue decline compared to the previous year.
• The company has announced a quarterly dividend of $0.45 per share, with a 3.64% dividend yield and a payout ratio of 26.32%.

Pacer Advisors Inc. cut its holdings in Sylvamo Corporation (NYSE:SLVM - Free Report) by 75.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,351 shares of the company's stock after selling 1,352,421 shares during the period. Pacer Advisors Inc. owned about 1.09% of Sylvamo worth $29,870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLVM. Covestor Ltd raised its stake in Sylvamo by 464.5% in the fourth quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after buying an additional 641 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Sylvamo in the first quarter valued at $200,000. DRW Securities LLC acquired a new stake in Sylvamo in the fourth quarter valued at $225,000. James Investment Research Inc. acquired a new stake in Sylvamo in the first quarter valued at $251,000. Finally, NDVR Inc. raised its stake in Sylvamo by 9.2% in the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after buying an additional 268 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLVM has been the topic of a number of analyst reports. Bank of America cut their price target on Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 9th. Royal Bank Of Canada cut their target price on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th.

Sylvamo Stock Performance

Shares of SLVM traded up $0.53 during midday trading on Friday, reaching $49.52. 177,647 shares of the stock were exchanged, compared to its average volume of 271,548. The business's 50-day moving average price is $52.10 and its 200 day moving average price is $62.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04. Sylvamo Corporation has a twelve month low of $47.85 and a twelve month high of $98.02. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 1.95 and a beta of 1.01.

Sylvamo (NYSE:SLVM - Get Free Report) last posted 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 analyst estimates of $819.61 million. During the same quarter last year, the firm posted $1.07 EPS. The firm's revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts expect that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's dividend payout ratio (DPR) 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.