State of Alaska Department of Revenue Sells 102,334 Shares of Sylvamo Corporation $SLVM

Key Points

• State of Alaska Department of Revenue sold 102,334 shares of Sylvamo in Q4, trimming its stake by 84.5% to 18,772 shares valued at about $903,000.
• Sylvamo declared a quarterly dividend of $0.45 per share (annualized $1.80) for a 4.2% yield, with an ex-dividend date of April 7 and payment on April 28.
• The company reported Q EPS of $1.08, beating estimates and revenue of $890M also topping expectations, but revenue was down 8.2% year-over-year and EPS declined versus the prior year; analysts forecast ~2.75 EPS for the current year.

State of Alaska Department of Revenue lessened its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 84.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,772 shares of the company's stock after selling 102,334 shares during the quarter. State of Alaska Department of Revenue's holdings in Sylvamo were worth $903,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SLVM. Nomura Holdings Inc. boosted its stake in Sylvamo by 34.1% in the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company's stock valued at $95,073,000 after acquiring an additional 546,336 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Sylvamo by 3,945.8% during the third quarter. Millennium Management LLC now owns 316,380 shares of the company's stock worth $13,990,000 after purchasing an additional 308,560 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Sylvamo in the second quarter worth $15,030,000. SG Americas Securities LLC lifted its holdings in shares of Sylvamo by 2,246.7% in the 4th quarter. SG Americas Securities LLC now owns 223,568 shares of the company's stock valued at $10,765,000 after buying an additional 214,041 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Sylvamo by 334.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 273,496 shares of the company's stock valued at $12,094,000 after buying an additional 210,496 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Trading Up 0.1%

Shares of SLVM stock opened at $42.40 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.50 and a quick ratio of 0.92. The firm has a market cap of $1.69 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.99. The company has a 50-day moving average of $43.69 and a two-hundred day moving average of $45.90. Sylvamo Corporation has a 1-year low of $37.09 and a 1-year high of $62.06.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.03. Sylvamo had a net margin of 3.94% and a return on equity of 15.12%. The firm had revenue of $890.00 million during the quarter, compared to the consensus estimate of $858.76 million. During the same quarter last year, the firm earned $1.96 EPS. The firm's revenue for the quarter was down 8.2% on a year-over-year basis. On average, analysts predict that Sylvamo Corporation will post 2.75 EPS for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, April 7th. Sylvamo's dividend payout ratio is currently 55.21%.

Insider Activity at Sylvamo

In other Sylvamo news, SVP Rodrigo Davoli sold 3,250 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $46.46, for a total value of $150,995.00. Following the completion of the transaction, the senior vice president owned 46,484 shares in the company, valued at $2,159,646.64. The trade was a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SLVM has been the topic of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Sylvamo in a research report on Wednesday, January 21st. Truist Financial initiated coverage on Sylvamo in a research note on Monday, March 30th. They issued a "buy" rating and a $54.00 price target on the stock. Finally, Royal Bank Of Canada set a $50.00 target price on Sylvamo in a report on Thursday, April 16th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $54.33.

Sylvamo Profile

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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