Sylvamo Corporation (NYSE:SLVM) Shares Sold by Jupiter Asset Management Ltd.

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

Other hedge funds have also modified their holdings of the company. Covestor Ltd increased its position in 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 during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Sylvamo during the first quarter worth about $200,000. DRW Securities LLC purchased a new position in Sylvamo during the fourth quarter worth about $225,000. James Investment Research Inc. purchased a new position in Sylvamo during the first quarter worth about $251,000. Finally, NDVR Inc. raised its stake in Sylvamo by 9.2% during the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after purchasing an additional 268 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Price Performance

Sylvamo stock opened at $45.90 on Tuesday. The company's 50 day simple moving average is $51.03 and its 200-day simple moving average is $60.72. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 6.71, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. Sylvamo Corporation has a 1 year low of $44.49 and a 1 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.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $819.61 million. During the same period in the previous year, the firm posted $1.07 earnings per share. The company's quarterly revenue was down 9.3% compared to the same quarter last year. As a group, equities research analysts expect that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.9%. Sylvamo's payout ratio is presently 26.32%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada reduced 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. Bank of America reduced their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 9th.

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.

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