Public Sector Pension Investment Board Boosts Holdings in Sylvamo Corporation $SLVM

Key Points

• Public Sector Pension Investment Board increased its stake in Sylvamo Corporation by 48.4%, acquiring an additional 41,530 shares, bringing its total ownership to approximately $8.5 million.
• Sylvamo's stock recently traded down 3.2%, with current shares priced at $43.26, reflecting a significant drop from its 1-year high of $98.02.
• The company reported earnings per share of $0.37 for the last quarter, falling short of analysts' estimates of $0.47, alongside a revenue decline of 14.9% year-over-year.

Public Sector Pension Investment Board increased its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 48.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,373 shares of the company's stock after purchasing an additional 41,530 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Sylvamo worth $8,543,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. bought a new position in Sylvamo during the first quarter worth $200,000. James Investment Research Inc. purchased a new position in shares of Sylvamo during the 1st quarter valued at $251,000. NDVR Inc. boosted its holdings in Sylvamo by 9.2% in the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after purchasing an additional 268 shares in the last quarter. Corton Capital Inc. bought a new stake in Sylvamo during the fourth quarter valued at about $258,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Sylvamo during the 1st quarter worth about $263,000. Hedge funds and other institutional investors own 91.16% of the company's stock.

Analyst Ratings Changes

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

Sylvamo Price Performance

Shares of SLVM stock traded up $0.3380 on Tuesday, reaching $44.1080. 115,865 shares of the company were exchanged, compared to its average volume of 352,855. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 1.54. The business has a 50-day moving average price of $49.20 and a 200 day moving average price of $58.22. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 2.43 and a beta of 1.00. Sylvamo Corporation has a 1 year low of $37.51 and a 1 year high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $826.60 million. During the same period in the previous year, the firm posted $1.98 EPS. The company's revenue was down 14.9% compared to the same quarter last year. Equities research analysts forecast that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal 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.