Sylvamo Corporation $SLVM Shares Bought 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 raised its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 38.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,278 shares of the company's stock after purchasing an additional 8,145 shares during the quarter. CX Institutional owned approximately 0.07% of Sylvamo worth $1,467,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SLVM. MorganRosel Wealth Management LLC raised its position in shares of Sylvamo by 1.3% in the first quarter. MorganRosel Wealth Management LLC now owns 17,472 shares of the company's stock valued at $1,172,000 after buying an additional 223 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of Sylvamo by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 9,233 shares of the company's stock valued at $619,000 after purchasing an additional 323 shares during the period. RHS Financial LLC raised its holdings in shares of Sylvamo by 9.1% in the 1st quarter. RHS Financial LLC now owns 4,095 shares of the company's stock valued at $275,000 after purchasing an additional 343 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sylvamo by 11.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,559 shares of the company's stock valued at $360,000 after purchasing an additional 481 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sylvamo by 2.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,797 shares of the company's stock worth $1,564,000 after buying an additional 520 shares during the period. 91.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on SLVM shares. Bank of America dropped their target price on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research report on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 target price on Sylvamo and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Finally, Zacks Research upgraded Sylvamo to a "strong sell" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $71.00.

Sylvamo Price Performance

NYSE SLVM traded down $1.52 during trading hours on Friday, reaching $43.75. The company's stock had a trading volume of 1,113,556 shares, compared to its average volume of 406,567. The stock has a market cap of $1.77 billion, a PE ratio of 8.36, a PEG ratio of 2.46 and a beta of 1.00. The company's 50-day moving average is $45.83 and its two-hundred day moving average is $53.58. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $98.02. 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 (NYSE:SLVM - Get Free Report) last announced 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 net margin of 6.11% and a return on equity of 23.99%. The firm had revenue of $794.00 million during the quarter, compared to the consensus estimate of $826.60 million. During the same period in the previous year, the firm posted $1.98 EPS. The company's quarterly revenue was down 14.9% compared to the same quarter last year. Analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a dividend of $0.45 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 4.1%. Sylvamo's payout ratio is currently 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.