Royce & Associates LP Grows Stake in Sylvamo Corporation (NYSE:SLVM)

Royce & Associates LP raised its stake in Sylvamo Corporation (NYSE:SLVM - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 385,234 shares of the company's stock after acquiring an additional 42,018 shares during the quarter. Royce & Associates LP owned approximately 0.95% of Sylvamo worth $25,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in Sylvamo by 464.5% in the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock worth $62,000 after purchasing an additional 641 shares during the period. First Citizens Bank & Trust Co. bought a new stake in shares of Sylvamo during the 1st quarter valued at about $200,000. DRW Securities LLC bought a new stake in shares of Sylvamo during the 4th quarter valued at about $225,000. James Investment Research Inc. bought a new stake in shares of Sylvamo during the 1st quarter valued at about $251,000. Finally, NDVR Inc. boosted its stake in Sylvamo by 9.2% during the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after acquiring an additional 268 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Stock Performance

Shares of NYSE SLVM traded down $0.66 during trading on Thursday, hitting $49.40. The company had a trading volume of 19,898 shares, compared to its average volume of 341,358. The stock has a 50 day simple moving average of $52.38 and a 200 day simple moving average of $62.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64. The firm has a market capitalization of $2.01 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01. Sylvamo Corporation has a 12 month low of $47.85 and a 12 month high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $821.00 million during the quarter, compared to analysts' expectations of $819.61 million. Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. As a group, analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.64%. Sylvamo's payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SLVM shares. Royal Bank Of Canada dropped their price objective on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Bank of America dropped their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 9th.

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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