Allianz Asset Management GmbH Has $36.37 Million Position in Sylvamo Corporation (NYSE:SLVM)

Allianz Asset Management GmbH raised its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 542,288 shares of the company's stock after acquiring an additional 34,323 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.33% of Sylvamo worth $36,371,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SLVM. Raymond James Financial Inc. purchased a new stake in Sylvamo in the 4th quarter valued at $3,632,000. Quantbot Technologies LP purchased a new stake in shares of Sylvamo during the fourth quarter worth about $647,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Sylvamo in the fourth quarter worth approximately $830,000. LPL Financial LLC lifted its position in shares of Sylvamo by 1.9% during the fourth quarter. LPL Financial LLC now owns 15,874 shares of the company's stock worth $1,254,000 after purchasing an additional 299 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Sylvamo by 0.8% during the fourth quarter. Prudential Financial Inc. now owns 133,168 shares of the company's stock valued at $10,523,000 after purchasing an additional 1,018 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company's stock.

Sylvamo Stock Down 2.2%

NYSE:SLVM traded down $1.09 during mid-day trading on Thursday, reaching $48.97. The stock had a trading volume of 199,543 shares, compared to its average volume of 285,822. The business's 50 day moving average is $52.24 and its 200 day moving average is $62.43. Sylvamo Corporation has a fifty-two week low of $47.85 and a fifty-two week high of $98.02. The stock has a market cap of $1.99 billion, a P/E ratio of 7.16, a PEG ratio of 1.97 and a beta of 1.01. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly 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 company had revenue of $821.00 million for the quarter, compared to analyst estimates of $819.61 million. During the same quarter last year, the business earned $1.07 EPS. The company's revenue for the quarter was down 9.3% on a year-over-year basis. As a group, sell-side analysts predict 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 given a $0.45 dividend. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 annualized dividend and a yield of 3.68%. Sylvamo's dividend payout ratio is 26.32%.

Analysts Set New Price Targets

Several research firms recently weighed in on SLVM. Royal Bank Of Canada reduced their price objective on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Bank of America reduced their price objective on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research note on Wednesday, July 9th.

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.