Sylvamo Corporation $SLVM Shares Purchased by CX Institutional

Key Points

• CX Institutional increased its stake in Sylvamo Corporation by 38.5% in Q2, acquiring an additional 8,145 shares, bringing its total holdings to approximately $1.47 million.
• Sylvamo reported earnings per share of $0.37 for the last quarter, missing expectations of $0.47, and saw a 14.9% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.45, with a yield of 4.1% and a payout ratio of 34.42%.

CX Institutional grew its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 38.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,278 shares of the company's stock after acquiring an additional 8,145 shares during the period. CX Institutional owned about 0.07% of Sylvamo worth $1,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock worth $200,843,000 after purchasing an additional 149,326 shares in the last quarter. LSV Asset Management increased its stake in shares of Sylvamo by 0.7% during the 1st quarter. LSV Asset Management now owns 1,804,055 shares of the company's stock worth $120,998,000 after purchasing an additional 12,371 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Sylvamo by 10.6% during the 1st quarter. American Century Companies Inc. now owns 1,123,686 shares of the company's stock worth $75,366,000 after purchasing an additional 107,622 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Sylvamo by 6.8% in the 1st quarter. Allianz Asset Management GmbH now owns 542,288 shares of the company's stock worth $36,371,000 after acquiring an additional 34,323 shares during the period. Finally, Royce & Associates LP grew its stake in Sylvamo by 12.2% in the 1st quarter. Royce & Associates LP now owns 385,234 shares of the company's stock worth $25,838,000 after acquiring an additional 42,018 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLVM has been the subject of several recent analyst reports. Bank of America lowered their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 price objective on Sylvamo and gave the stock a "sector perform" rating in a report on Monday, August 11th. Finally, Zacks Research upgraded Sylvamo to a "strong sell" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $71.00.

Sylvamo Stock Up 0.6%

Shares of SLVM stock traded up $0.24 during trading hours on Tuesday, hitting $43.28. 140,341 shares of the company were exchanged, compared to its average volume of 364,888. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 1.54. Sylvamo Corporation has a one year low of $37.51 and a one year high of $98.02. The business's 50-day simple moving average is $45.68 and its two-hundred day simple moving average is $53.41. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 2.46 and a beta of 1.00.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.10). Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The company had revenue of $794.00 million for the quarter, compared to the consensus estimate of $826.60 million. During the same period in the previous year, the business posted $1.98 EPS. The business's revenue for the quarter was down 14.9% on a year-over-year basis. Sell-side analysts predict that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.80 annualized dividend and a yield of 4.2%. Sylvamo's dividend payout ratio is 34.42%.

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.