Sylvamo Co. (NYSE:SLVM) Shares Sold by Vest Financial LLC

Vest Financial LLC decreased its holdings in Sylvamo Co. (NYSE:SLVM - Free Report) by 67.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,822 shares of the company's stock after selling 20,715 shares during the quarter. Vest Financial LLC's holdings in Sylvamo were worth $659,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLVM. First Trust Advisors LP increased its holdings in Sylvamo by 39.7% in the fourth quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock valued at $93,045,000 after buying an additional 334,792 shares during the last quarter. American Century Companies Inc. lifted its position in Sylvamo by 15.2% in the fourth 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 period. Millennium Management LLC lifted its position in Sylvamo by 185.1% in the fourth 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 period. Norges Bank acquired a new stake in Sylvamo in the fourth quarter worth approximately $6,505,000. Finally, Invesco Ltd. lifted its position in shares of Sylvamo by 27.5% during the 4th quarter. Invesco Ltd. now owns 375,231 shares of the company's stock valued at $29,651,000 after acquiring an additional 80,895 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sylvamo Price Performance

Shares of NYSE:SLVM opened at $53.73 on Monday. 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 Co. has a 1 year low of $51.55 and a 1 year high of $98.02. The business has a fifty day simple moving average of $57.75 and a 200 day simple moving average of $70.40. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 2.23 and a beta of 1.07.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results 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 for 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%. The company's quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.07 earnings per share. As a group, sell-side analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, July 8th. Sylvamo's dividend payout ratio is currently 26.32%.

Insider Activity

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 131,894 shares in the company, valued at $8,591,575.16. This trade represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.74% of the stock is currently owned by company insiders.

Sylvamo Company 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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