Bank of America Corp DE Has $13.38 Million Stake in Sylvamo Co. (NYSE:SLVM)

Bank of America Corp DE decreased its position in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,262 shares of the company's stock after selling 41,096 shares during the quarter. Bank of America Corp DE owned approximately 0.41% of Sylvamo worth $13,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Investment Advisors Inc. raised its position in Sylvamo by 5.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,639 shares of the company's stock valued at $288,000 after purchasing an additional 193 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Sylvamo by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company's stock valued at $58,000 after buying an additional 214 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Sylvamo by 12.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock valued at $159,000 after buying an additional 218 shares during the last quarter. LPL Financial LLC boosted its position in Sylvamo by 1.9% during the 4th quarter. LPL Financial LLC now owns 15,874 shares of the company's stock worth $1,254,000 after buying an additional 299 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Sylvamo by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company's stock worth $363,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 91.16% of the company's stock.

Insider Transactions at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares of the company's stock, valued at $8,591,575.16. The trade was a 13.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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 report on Monday, May 12th.

Sylvamo Trading Up 2.4%

Shares of NYSE SLVM traded up $1.28 during trading on Tuesday, reaching $55.47. The company had a trading volume of 268,362 shares, compared to its average volume of 333,791. The stock has a market cap of $2.26 billion, a P/E ratio of 7.69, a PEG ratio of 2.23 and a beta of 1.18. The company's fifty day moving average price is $59.88 and its 200-day moving average price is $72.37. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. Sylvamo Co. has a 12 month low of $51.60 and a 12 month high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Sylvamo's revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's dividend payout ratio is currently 26.32%.

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.