Jefferies Financial Group Inc. Sells 35,869 Shares of Sylvamo Corporation (NYSE:SLVM)

Key Points

• Jefferies Financial Group Inc. reduced its stake in Sylvamo Corporation by 59.6%, now holding 24,264 shares worth approximately $1.63 million.
• Sylvamo reported earnings of $0.68 per share, missing estimates and reflecting a 9.3% year-over-year revenue decline to $821 million.
• The company declared a quarterly dividend of $0.45 per share, resulting in an annualized yield of 4.0%.

Jefferies Financial Group Inc. lessened its holdings in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 59.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,264 shares of the company's stock after selling 35,869 shares during the period. Jefferies Financial Group Inc. owned about 0.06% of Sylvamo worth $1,627,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Covestor Ltd grew its stake in shares of 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 stake in Sylvamo in the fourth quarter valued at $225,000. First Citizens Bank & Trust Co. purchased a new stake in Sylvamo in the first quarter valued at $200,000. NDVR Inc. lifted its position 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 acquiring an additional 268 shares during the last quarter. Finally, Corton Capital Inc. purchased a new stake in Sylvamo in the fourth quarter valued at $258,000. Institutional investors own 91.16% of the company's stock.

Sylvamo Stock Up 1.2%

Shares of Sylvamo stock traded up $0.57 during trading on Thursday, hitting $47.97. 380,319 shares of the stock traded hands, compared to its average volume of 339,803. Sylvamo Corporation has a 52-week low of $44.49 and a 52-week high of $98.02. The firm has a market cap of $1.95 billion, a P/E ratio of 7.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00. The company has a current ratio of 1.64, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The stock's fifty day simple moving average is $50.72 and its 200 day simple moving average is $60.53.

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

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.80 annualized dividend and a yield of 3.8%. Sylvamo's dividend payout ratio (DPR) is currently 26.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. 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. Royal Bank Of Canada cut their price target on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research report 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.