Renaissance Technologies LLC Sells 37,400 Shares of Sylvamo Corporation $SLVM

Key Points

• Renaissance Technologies cut its Sylvamo stake by 58.7%, selling 37,400 shares and retaining 26,300 shares valued at approximately $1.11 million. Institutional investors collectively own 91.16% of SLVM.
• Sylvamo reported quarterly EPS of $0.03, beating the $0.02 consensus estimate, while revenue of $806 million fell slightly short of expectations but increased 1.5% year over year.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $46.67, compared with a recent trading price of $38.34.

Renaissance Technologies LLC decreased its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 58.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,300 shares of the company's stock after selling 37,400 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Sylvamo worth $1,111,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SLVM. Sei Investments Co. raised its stake in Sylvamo by 2.1% during the 1st quarter. Sei Investments Co. now owns 37,800 shares of the company's stock worth $1,596,000 after buying an additional 775 shares during the period. First Trust Advisors LP grew its stake in Sylvamo by 10.0% in the first quarter. First Trust Advisors LP now owns 136,605 shares of the company's stock valued at $5,770,000 after acquiring an additional 12,436 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Sylvamo by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company's stock worth $57,547,000 after acquiring an additional 72,177 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Sylvamo by 11.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,709 shares of the company's stock worth $500,000 after purchasing an additional 1,177 shares during the period. Finally, Illinois Municipal Retirement Fund raised its position in shares of Sylvamo by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 17,932 shares of the company's stock worth $757,000 after purchasing an additional 666 shares during the period. Institutional investors own 91.16% of the company's stock.

Insider Transactions at Sylvamo

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $41.70, for a total transaction of $51,291.00. Following the sale, the director directly owned 14,475 shares of the company's stock, valued at $603,607.50. The trade was a 7.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.81% of the company's stock.

Sylvamo Trading Down 1.5%

NYSE:SLVM opened at $38.34 on Friday. The company has a market cap of $1.52 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.40 and a beta of 0.87. Sylvamo Corporation has a twelve month low of $35.53 and a twelve month high of $56.80. The business has a 50 day moving average price of $38.89 and a two-hundred day moving average price of $41.81. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Sylvamo had a net margin of 2.31% and a return on equity of 8.36%. The company had revenue of $806.00 million for the quarter, compared to the consensus estimate of $811.25 million. During the same period last year, the company earned $0.37 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. As a group, analysts expect that Sylvamo Corporation will post 1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLVM has been the subject of several research analyst reports. Truist Financial reiterated a "buy" rating and issued a $49.00 price objective (down from $51.00) on shares of Sylvamo in a research report on Monday. Bank of America restated a "neutral" rating and set a $45.00 target price on shares of Sylvamo in a report on Tuesday, July 14th. Royal Bank Of Canada cut their price target on shares of Sylvamo from $49.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Sylvamo from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Sylvamo in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $46.67.

About Sylvamo

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.

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