Sylvamo Corporation $SLVM Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Sylvamo stake by 81.6% in the first quarter, holding 224,199 shares worth approximately $9.47 million. Institutional investors collectively own 91.16% of SLVM.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $46.67, with ratings ranging from Buy to Sell.
• Sylvamo reported quarterly EPS of $0.03, exceeding estimates by $0.01, while revenue of $806 million slightly missed forecasts. Shares opened at $36.93, near the company’s 12-month low of $35.53.

Bank of America Corp DE raised its holdings in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 81.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 224,199 shares of the company's stock after acquiring an additional 100,746 shares during the period. Bank of America Corp DE owned approximately 0.56% of Sylvamo worth $9,470,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Millennium Management LLC raised its stake in shares of Sylvamo by 605.9% during the 4th quarter. Millennium Management LLC now owns 2,233,209 shares of the company's stock valued at $107,529,000 after buying an additional 1,916,829 shares during the last quarter. Nomura Holdings Inc. lifted its holdings in Sylvamo by 34.1% in the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company's stock valued at $95,073,000 after acquiring an additional 546,336 shares during the period. Dimensional Fund Advisors LP boosted its position in Sylvamo by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company's stock worth $57,547,000 after purchasing an additional 72,177 shares in the last quarter. State Street Corp boosted its position in Sylvamo by 2.6% in the 4th quarter. State Street Corp now owns 1,341,850 shares of the company's stock worth $64,610,000 after purchasing an additional 34,551 shares in the last quarter. Finally, Wasatch Advisors LP grew its stake in shares of Sylvamo by 12.5% during the 3rd quarter. Wasatch Advisors LP now owns 941,999 shares of the company's stock worth $41,655,000 after purchasing an additional 104,778 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SLVM shares. Bank of America reaffirmed a "neutral" rating and set a $45.00 target price on shares of Sylvamo in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Sylvamo from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Truist Financial reaffirmed a "buy" rating and issued a $49.00 price objective (down from $51.00) on shares of Sylvamo in a report on Monday, August 10th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Sylvamo in a research report on Friday, August 7th. Finally, Royal Bank Of Canada lowered their target price on shares of Sylvamo from $49.00 to $46.00 and set a "sector perform" rating on the stock in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $46.67.

Insider Activity

In other news, Director Lizanne M. Bruce sold 1,230 shares of Sylvamo stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $41.70, for a total value of $51,291.00. Following the sale, the director owned 14,475 shares in the company, valued at $603,607.50. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is currently owned by company insiders.

Sylvamo Stock Up 0.4%

Sylvamo stock opened at $36.93 on Tuesday. The stock has a market capitalization of $1.47 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.32 and a beta of 0.87. Sylvamo Corporation has a 12 month low of $35.53 and a 12 month high of $56.80. The business has a 50 day simple moving average of $38.46 and a 200-day simple moving average of $41.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.47 and a quick ratio of 0.80.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $806.00 million during the quarter, compared to the consensus estimate of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%.The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. On average, analysts anticipate that Sylvamo Corporation will post 1.53 EPS for the current fiscal year.

Sylvamo Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.

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