Jupiter Asset Management Ltd. Has $1.30 Million Stock Position in Sylvamo Corporation (NYSE:SLVM)

Key Points

• Jupiter Asset Management Ltd. has significantly reduced its holdings in Sylvamo Corporation by **79.8%**, selling **76,419 shares** in the first quarter and retaining only **19,334 shares** valued at approximately **$1.3 million**.
• Despite a decline in quarterly revenue, Sylvamo reported an **EPS of $0.68**, indicating a **miss** against the consensus estimate of **$0.70** and down from **$1.07** from the same period last year.
• The company recently declared a quarterly dividend of **$0.45 per share**, resulting in an annualized dividend of **$1.80** with a dividend yield of **3.8%**.

Jupiter Asset Management Ltd. lessened its stake in Sylvamo Corporation (NYSE:SLVM - Free Report) by 79.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,334 shares of the company's stock after selling 76,419 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Sylvamo were worth $1,297,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms recently issued reports on SLVM. Royal Bank Of Canada lowered their target price on 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 reduced their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a report on Wednesday, July 9th.

Sylvamo Stock Down 13.1%

Shares of Sylvamo stock traded down $6.28 during trading on Friday, reaching $41.56. The stock had a trading volume of 686,911 shares, compared to its average volume of 343,495. 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 company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 6.08, a P/E/G ratio of 1.87 and a beta of 1.00. The stock has a fifty day moving average price of $50.57 and a two-hundred day moving average price of $60.32. 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 released its earnings results on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.10). The firm had revenue of $794.00 million during the quarter, compared to the consensus estimate of $826.60 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company's revenue was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. Sell-side analysts predict that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

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 was Tuesday, July 8th. This represents a $1.80 annualized dividend and a yield of 4.3%. Sylvamo's dividend payout ratio is presently 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.