Jefferies Financial Group Inc. Has $1.63 Million Stock Holdings in 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. cut its holdings in Sylvamo Corporation (NYSE:SLVM - Free Report) by 59.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SLVM. Principal Financial Group Inc. grew its holdings in Sylvamo by 1.6% during the first quarter. Principal Financial Group Inc. now owns 185,620 shares of the company's stock worth $12,450,000 after acquiring an additional 2,958 shares during the period. CWA Asset Management Group LLC boosted its position in Sylvamo by 27.3% during the first quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company's stock worth $418,000 after purchasing an additional 1,336 shares in the last quarter. Deutsche Bank AG boosted its position in Sylvamo by 48.0% during the fourth quarter. Deutsche Bank AG now owns 31,474 shares of the company's stock worth $2,487,000 after purchasing an additional 10,204 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Sylvamo during the fourth quarter worth $372,000. Finally, Bank of Montreal Can lifted its holdings in Sylvamo by 10.3% in the 4th quarter. Bank of Montreal Can now owns 6,304 shares of the company's stock valued at $498,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Trading Up 1.0%

NYSE:SLVM traded up $0.46 during trading hours on Wednesday, hitting $47.42. The stock had a trading volume of 246,842 shares, compared to its average volume of 339,915. Sylvamo Corporation has a one year low of $44.49 and a one year high of $98.02. 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 company has a market cap of $1.93 billion, a price-to-earnings ratio of 6.93, a P/E/G ratio of 1.81 and a beta of 1.00. The business's 50 day moving average is $50.86 and its 200-day moving average is $60.62.

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 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 during the quarter, compared to the consensus estimate of $819.61 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The company's revenue was down 9.3% on a year-over-year basis. Sell-side analysts anticipate that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently declared 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 was Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a yield of 3.8%. Sylvamo's dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SLVM shares. Royal Bank Of Canada decreased 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 note on Monday, May 12th. Bank of America dropped their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th.

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.