SG Americas Securities LLC Sells 8,462 Shares of Sylvamo Corporation (NYSE:SLVM)

SG Americas Securities LLC lowered its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 40.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,643 shares of the company's stock after selling 8,462 shares during the period. SG Americas Securities LLC's holdings in Sylvamo were worth $848,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SLVM. First Trust Advisors LP increased its stake in shares of Sylvamo by 39.7% during the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock worth $93,045,000 after purchasing an additional 334,792 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Sylvamo by 15.2% during the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock worth $80,289,000 after purchasing an additional 134,066 shares during the last quarter. Millennium Management LLC increased its stake in shares of Sylvamo by 185.1% during the 4th quarter. Millennium Management LLC now owns 144,431 shares of the company's stock worth $11,413,000 after purchasing an additional 93,767 shares during the last quarter. Norges Bank purchased a new stake in shares of Sylvamo during the 4th quarter worth approximately $6,505,000. Finally, Invesco Ltd. increased its stake in shares of Sylvamo by 27.5% during the 4th quarter. Invesco Ltd. now owns 375,231 shares of the company's stock worth $29,651,000 after purchasing an additional 80,895 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

Sylvamo Stock Performance

SLVM traded up $0.04 on Friday, hitting $50.22. The company's stock had a trading volume of 846,596 shares, compared to its average volume of 334,610. The company's 50 day simple moving average is $56.00 and its 200-day simple moving average is $67.88. The firm has a market cap of $2.05 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. Sylvamo Corporation has a 12 month low of $50.01 and a 12 month high of $98.02. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 0.87.

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

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.58%. The ex-dividend date is Tuesday, July 8th. Sylvamo's payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada decreased their price target on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th.

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.