Sylvamo Corporation (NYSE:SLVM) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 57.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,720 shares of the company's stock after purchasing an additional 23,368 shares during the period. Massachusetts Financial Services Co. MA owned 0.16% of Sylvamo worth $4,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd raised its holdings in Sylvamo by 464.5% during the fourth quarter. Covestor Ltd now owns 779 shares of the company's stock worth $62,000 after purchasing an additional 641 shares in the last quarter. DRW Securities LLC purchased a new position in Sylvamo during the fourth quarter worth approximately $225,000. First Citizens Bank & Trust Co. acquired a new position in shares of Sylvamo during the 1st quarter valued at $200,000. NDVR Inc. lifted its holdings in shares of Sylvamo by 9.2% during the 4th quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after acquiring an additional 268 shares in the last quarter. Finally, Corton Capital Inc. acquired a new position in shares of Sylvamo during the 4th quarter valued at $258,000. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Trading Down 3.3%

SLVM opened at $48.86 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The firm has a 50 day simple moving average of $52.74 and a 200 day simple moving average of $63.15. Sylvamo Corporation has a fifty-two week low of $48.67 and a fifty-two week high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued 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). Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The firm had revenue of $821.00 million during the quarter, compared to the consensus estimate of $819.61 million. During the same period in the previous year, the company posted $1.07 EPS. The firm's revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

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

Analysts Set New Price Targets

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

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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