Sylvamo Corporation (NYSE:SLVM) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 732.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,643 shares of the company's stock after acquiring an additional 50,717 shares during the quarter. Edgestream Partners L.P. owned 0.14% of Sylvamo worth $3,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Covestor Ltd boosted its stake in shares of Sylvamo by 464.5% in the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after buying an additional 641 shares during the period. First Citizens Bank & Trust Co. purchased a new position in shares of Sylvamo in the 1st quarter valued at about $200,000. DRW Securities LLC purchased a new position in shares of Sylvamo in the 4th quarter valued at about $225,000. Vestcor Inc purchased a new position in shares of Sylvamo in the 4th quarter valued at about $246,000. Finally, NDVR Inc. boosted its stake in shares of Sylvamo by 9.2% in the 4th quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after buying an additional 268 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLVM has been the subject of several recent analyst reports. Bank of America decreased their target price on Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada cut their price target on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th.

Sylvamo Price Performance

SLVM stock traded down $1.67 on Friday, reaching $48.86. 393,959 shares of the company's stock were exchanged, compared to its average volume of 325,426. The stock has a fifty day moving average of $52.74 and a 200-day moving average of $63.26. Sylvamo Corporation has a twelve month low of $48.67 and a twelve month high of $98.02. The firm has a market cap of $1.99 billion, a PE ratio of 7.14, a P/E/G ratio of 1.99 and a beta of 1.01. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 0.87.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results 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). The firm had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The firm's revenue for the quarter was down 9.3% on a year-over-year basis. During the same period last year, the company posted $1.07 EPS. As a group, equities analysts predict that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.68%. Sylvamo's dividend payout ratio is currently 26.32%.

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.