12,500 Shares in Sylvamo Corporation $SLVM Acquired by Strs Ohio

Key Points

• Strs Ohio acquired a new stake in Sylvamo Corporation worth approximately $838,000, purchasing 12,500 shares in the first quarter.
• Sylvamo's stock has fallen 3.4% recently, with a current price of $43.75 and earnings reported at $0.37 EPS, missing expectations.
• The company announced a quarterly dividend of $0.45 per share, representing an annualized yield of 4.1% with a payout ratio of 34.42%.

Strs Ohio bought a new position in Sylvamo Corporation (NYSE:SLVM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,500 shares of the company's stock, valued at approximately $838,000.

Other large investors have also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Sylvamo during the first quarter valued at approximately $61,000. First Citizens Bank & Trust Co. purchased a new position in Sylvamo during the first quarter valued at approximately $200,000. James Investment Research Inc. purchased a new position in Sylvamo during the first quarter valued at approximately $251,000. Kapitalo Investimentos Ltda purchased a new position in Sylvamo during the first quarter valued at approximately $263,000. Finally, Highland Capital Management LLC purchased a new position in Sylvamo during the first quarter valued at approximately $268,000. 91.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SLVM. Zacks Research raised shares of Sylvamo to a "strong sell" rating in a report on Monday, August 11th. Royal Bank Of Canada set a $49.00 price objective on shares of Sylvamo and gave the company a "sector perform" rating in a research report on Monday, August 11th. Finally, Bank of America dropped their price objective on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $71.00.

Sylvamo Stock Up 1.6%

Shares of NYSE:SLVM traded up $0.70 during trading on Tuesday, reaching $43.74. The stock had a trading volume of 27,987 shares, compared to its average volume of 364,232. Sylvamo Corporation has a one year low of $37.51 and a one year high of $98.02. The company has a market capitalization of $1.77 billion, a P/E ratio of 8.36, a PEG ratio of 2.46 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. The firm's 50-day simple moving average is $45.68 and its 200 day simple moving average is $53.41.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly 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 net margin of 6.11% and a return on equity of 23.99%. The firm had revenue of $794.00 million during the quarter, compared to the consensus estimate of $826.60 million. During the same quarter in the prior year, the business posted $1.98 earnings per share. The firm's quarterly revenue was down 14.9% on a year-over-year basis. As a group, research analysts expect that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, October 3rd. Sylvamo's dividend payout ratio (DPR) is currently 34.42%.

About Sylvamo

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.