Massachusetts Financial Services Co. MA Boosts Stake in Sylvamo Corporation (NYSE:SLVM)

Massachusetts Financial Services Co. MA raised its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 57.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 63,720 shares of the company's stock after acquiring an additional 23,368 shares during the period. Massachusetts Financial Services Co. MA owned about 0.16% of Sylvamo worth $4,274,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of SLVM. Covestor Ltd raised its stake in Sylvamo by 464.5% in the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after acquiring an additional 641 shares during the period. DRW Securities LLC acquired a new stake in shares of Sylvamo during the 4th quarter worth $225,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Sylvamo during the 1st quarter worth $200,000. NDVR Inc. boosted its stake in Sylvamo by 9.2% in the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after buying an additional 268 shares in the last quarter. Finally, Corton Capital Inc. acquired a new stake in Sylvamo in the fourth quarter valued at about $258,000. Institutional investors own 91.16% of the company's stock.

Sylvamo Trading Up 2.3%

SLVM traded up $1.12 on Wednesday, hitting $50.06. 207,393 shares of the company were exchanged, compared to its average volume of 325,744. The firm has a fifty day simple moving average of $52.38 and a two-hundred day simple moving average of $62.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64. Sylvamo Corporation has a 12 month low of $47.85 and a 12 month high of $98.02. The stock has a market capitalization of $2.04 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 1.93 and a beta of 1.01.

Sylvamo (NYSE:SLVM - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $821.00 million during the quarter, compared to analysts' expectations of $819.61 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. Sell-side analysts expect that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.60%. The ex-dividend date is Tuesday, July 8th. Sylvamo's dividend payout ratio is presently 26.32%.

Analyst Ratings Changes

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

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.