Federated Hermes Inc. Decreases Position in Sylvamo Corporation (NYSE:SLVM)

Federated Hermes Inc. cut its holdings in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,579 shares of the company's stock after selling 9,685 shares during the period. Federated Hermes Inc. owned approximately 0.10% of Sylvamo worth $2,789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. LSV Asset Management increased its position in shares of Sylvamo by 3.8% during the fourth quarter. LSV Asset Management now owns 1,791,684 shares of the company's stock worth $141,579,000 after acquiring an additional 66,180 shares in the last quarter. First Trust Advisors LP increased its position in shares of Sylvamo by 39.7% during the fourth quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock worth $93,045,000 after acquiring an additional 334,792 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sylvamo by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 923,792 shares of the company's stock worth $73,011,000 after purchasing an additional 7,795 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Sylvamo by 6.8% during the first quarter. Allianz Asset Management GmbH now owns 542,288 shares of the company's stock worth $36,371,000 after purchasing an additional 34,323 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Sylvamo by 6.9% during the fourth quarter. Northern Trust Corp now owns 403,900 shares of the company's stock worth $31,916,000 after purchasing an additional 25,934 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLVM has been the topic of several analyst reports. Bank of America cut their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a report on Wednesday, July 9th. Royal Bank Of Canada dropped 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

Sylvamo stock traded down $6.47 during midday trading on Friday, reaching $41.38. 602,673 shares of the stock were exchanged, compared to its average volume of 342,887. The company's fifty day moving average is $50.57 and its 200-day moving average is $60.32. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64. The firm has a market cap of $1.68 billion, a PE ratio of 6.03, a PEG ratio of 1.87 and a beta of 1.00. Sylvamo Corporation has a 52 week low of $37.51 and a 52 week high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.10). The company had revenue of $794.00 million during the quarter, compared to the consensus estimate of $826.60 million. Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. Sylvamo's quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.98 EPS. On average, sell-side analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. Sylvamo's dividend payout ratio (DPR) 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.