Sylvamo Corporation (NYSE:SLVM) Stock Holdings Lessened by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 18.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,579 shares of the company's stock after selling 9,685 shares during the period. Federated Hermes Inc. owned 0.10% of Sylvamo worth $2,789,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in Sylvamo by 464.5% in the fourth quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after purchasing an additional 641 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Sylvamo in the 1st quarter valued at $200,000. DRW Securities LLC purchased a new stake in shares of Sylvamo during the 4th quarter valued at $225,000. James Investment Research Inc. purchased a new position in shares of Sylvamo in the 1st quarter worth $251,000. Finally, NDVR Inc. grew its position in Sylvamo by 9.2% during the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after acquiring an additional 268 shares during the period. Institutional investors and hedge funds own 91.16% of the company's stock.

Wall Street Analyst Weigh In

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

Sylvamo Stock Up 1.0%

Shares of Sylvamo stock traded up $0.46 on Wednesday, hitting $47.42. 246,842 shares of the company's stock traded hands, compared to its average volume of 339,915. Sylvamo Corporation has a 52-week low of $44.49 and a 52-week high of $98.02. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.93 billion, a P/E ratio of 6.93, a PEG ratio of 1.81 and a beta of 1.00. The firm's 50-day moving average is $50.86 and its 200 day moving average is $60.62.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.68 earnings per share (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 for the quarter, compared to analyst estimates of $819.61 million. During the same period last year, the firm posted $1.07 EPS. The business's revenue was down 9.3% compared to the same quarter last year. Equities 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 was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th were issued a $0.45 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.8%. Sylvamo's dividend payout ratio (DPR) is 26.32%.

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.