Raymond James Financial Inc. Increases Stake in Sylvamo Corporation $SLVM

Key Points

• Raymond James Financial Inc. significantly increased its stake in Sylvamo Corporation by 164.8% during the first quarter, acquiring a total of 121,740 shares valued at approximately $8.165 million.
• Sylvamo's recent earnings report showed a decline in revenue by 14.9% year-over-year, with earnings per share of $0.37 falling short of analysts' consensus estimates of $0.47.
• Analysts have mixed ratings on Sylvamo, with a consensus rating of "Reduce" and a target price set around $71.00.

Raymond James Financial Inc. raised its holdings in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 164.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,740 shares of the company's stock after buying an additional 75,771 shares during the period. Raymond James Financial Inc. owned about 0.30% of Sylvamo worth $8,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Citizens Bank & Trust Co. purchased a new stake in Sylvamo during the first quarter valued at approximately $200,000. James Investment Research Inc. purchased a new stake in Sylvamo during the first quarter valued at approximately $251,000. NDVR Inc. increased its holdings in 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 buying an additional 268 shares during the last quarter. Corton Capital Inc. purchased a new stake in Sylvamo during the fourth quarter valued at approximately $258,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Sylvamo during the first quarter valued at approximately $263,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Price Performance

Shares of NYSE:SLVM opened at $46.15 on Tuesday. 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 firm has a fifty day moving average price of $47.87 and a 200 day moving average price of $56.06. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $98.02. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 2.59 and a beta of 1.00.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America dropped their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Finally, Zacks Research upgraded shares of Sylvamo to a "strong sell" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Sylvamo currently has a consensus rating of "Reduce" and a consensus target price 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.

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