Sylvamo Co. (NYSE:SLVM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,262 shares of the company's stock after selling 41,096 shares during the period. Bank of America Corp DE owned about 0.41% of Sylvamo worth $13,375,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SLVM. Smartleaf Asset Management LLC lifted its stake in Sylvamo by 182.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock worth $49,000 after acquiring an additional 403 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Sylvamo by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company's stock worth $58,000 after purchasing an additional 214 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock worth $62,000 after buying an additional 641 shares during the period. KBC Group NV boosted its holdings in Sylvamo by 80.2% during the fourth quarter. KBC Group NV now owns 1,836 shares of the company's stock valued at $145,000 after acquiring an additional 817 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in Sylvamo by 12.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock valued at $159,000 after purchasing an additional 218 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Trading Down 2.4%

Shares of SLVM opened at $56.22 on Thursday. The stock has a 50 day simple moving average of $60.76 and a 200-day simple moving average of $73.50. Sylvamo Co. has a 1 year low of $51.60 and a 1 year high of $98.02. The stock has a market cap of $2.29 billion, a PE ratio of 7.80, a PEG ratio of 2.23 and a beta of 1.18. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92.

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

Sylvamo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, July 8th. Sylvamo's payout ratio is presently 26.32%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reduced their target price 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.

Insider Activity at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.74% of the stock is currently owned by company insiders.

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.

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