State of Alaska Department of Revenue Reduces Stock Position in Sylvamo Corporation (NYSE:SLVM)

State of Alaska Department of Revenue trimmed its position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 17.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWA Asset Management Group LLC raised its position in shares of Sylvamo by 27.3% during the 1st quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company's stock valued at $418,000 after purchasing an additional 1,336 shares during the period. Deutsche Bank AG increased 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 acquiring an additional 10,204 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Sylvamo in the 4th quarter valued at $372,000. Bank of Montreal Can increased 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 acquiring an additional 587 shares during the last quarter. Finally, Handelsbanken Fonder AB increased 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 acquiring an additional 300 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada reduced their price target 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 Price Performance

NYSE SLVM traded up $0.60 on Monday, reaching $50.74. The company had a trading volume of 270,637 shares, compared to its average volume of 328,962. 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 stock has a market capitalization of $2.07 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. The firm's 50 day moving average price is $55.82 and its 200 day moving average price is $67.30. Sylvamo Corporation has a 12 month low of $50.01 and a 12 month high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly 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 the consensus estimate of $819.61 million. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The business's revenue was down 9.3% on a year-over-year basis. As a group, equities analysts predict that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.55%. Sylvamo's payout ratio is currently 26.32%.

Sylvamo Company 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.