New York State Common Retirement Fund Decreases Position in Sylvamo Corporation (NYSE:SLVM)

New York State Common Retirement Fund reduced its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 24.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,402 shares of the company's stock after selling 5,700 shares during the quarter. New York State Common Retirement Fund's holdings in Sylvamo were worth $1,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLVM. Alps Advisors Inc. raised its holdings in Sylvamo by 19.4% in the first quarter. Alps Advisors Inc. now owns 5,473 shares of the company's stock worth $367,000 after purchasing an additional 890 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sylvamo by 1.6% during the first quarter. Principal Financial Group Inc. now owns 185,620 shares of the company's stock valued at $12,450,000 after acquiring an additional 2,958 shares in the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of Sylvamo by 1.3% during the first quarter. MorganRosel Wealth Management LLC now owns 17,472 shares of the company's stock valued at $1,172,000 after acquiring an additional 223 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of Sylvamo during the first quarter valued at about $268,000. Finally, Perigon Wealth Management LLC increased its holdings in shares of Sylvamo by 3.6% during the first quarter. Perigon Wealth Management LLC now owns 9,233 shares of the company's stock valued at $619,000 after acquiring an additional 323 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Trading Up 1.1%

SLVM traded up $0.53 during mid-day trading on Friday, reaching $49.52. The stock had a trading volume of 177,647 shares, compared to its average volume of 286,417. The stock has a market capitalization of $2.02 billion, a P/E ratio of 7.24, a P/E/G ratio of 1.93 and a beta of 1.01. 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 firm's fifty day simple moving average is $52.10 and its two-hundred day simple moving average is $62.24. Sylvamo Corporation has a 52 week low of $47.85 and a 52 week high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last released 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). Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. During the same period in the prior year, the firm posted $1.07 EPS. Sylvamo's revenue was down 9.3% compared to the same quarter last year. On average, equities analysts predict that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.80 annualized dividend and a yield of 3.64%. Sylvamo's dividend payout ratio is currently 26.32%.

Analyst Ratings Changes

A number of analysts recently issued reports on SLVM shares. Royal Bank Of Canada cut their price objective on 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 decreased their target price 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 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.