Sylvamo Corporation (NYSE:SLVM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,242 shares of the company's stock after selling 21,973 shares during the period. State of Alaska Department of Revenue owned 0.26% of Sylvamo worth $7,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SLVM. Deutsche Bank AG raised its holdings in Sylvamo by 48.0% in the 4th quarter. Deutsche Bank AG now owns 31,474 shares of the company's stock valued at $2,487,000 after buying an additional 10,204 shares during the period. Squarepoint Ops LLC purchased a new stake in Sylvamo in the 4th quarter valued at about $372,000. Bank of Montreal Can raised 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 buying an additional 587 shares during the period. Handelsbanken Fonder AB raised its holdings in Sylvamo by 7.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company's stock valued at $363,000 after buying an additional 300 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Sylvamo by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 182,662 shares of the company's stock valued at $14,434,000 after buying an additional 7,194 shares during the period. Hedge funds and other institutional investors own 91.16% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reduced their price objective on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th.

Sylvamo Trading Up 0.1%

NYSE SLVM traded up $0.04 during trading on Friday, hitting $50.22. The stock had a trading volume of 846,596 shares, compared to its average volume of 334,610. The company has a market capitalization of $2.05 billion, a PE ratio of 7.34, a PEG ratio of 1.97 and a beta of 1.07. The company has a quick ratio of 1.04, a current ratio of 1.64 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average price of $56.00 and a 200 day moving average price of $67.88. Sylvamo Corporation has a twelve month low of $50.01 and a twelve month 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 for the quarter, missing the consensus estimate of $0.70 by ($0.02). The firm had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The business's revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, equities research analysts forecast that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's dividend payout ratio is currently 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.