Sylvamo Corporation $SLVM Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Sylvamo Corporation by 2.3%, now holding approximately 529,805 shares valued at $26.5 million.
• Sylvamo's latest earnings report revealed a missed earnings estimate with $0.37 earnings per share, down from $1.98 a year earlier, and quarterly revenue of $794 million, falling short of the $826.6 million expectation.
• The company declared a quarterly dividend of $0.45 per share, representing an annualized dividend of $1.80 and a yield of 4.3%.

Allianz Asset Management GmbH trimmed its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 529,805 shares of the company's stock after selling 12,483 shares during the quarter. Allianz Asset Management GmbH owned about 1.30% of Sylvamo worth $26,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SLVM. CWA Asset Management Group LLC boosted its holdings in Sylvamo by 27.3% in 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 last quarter. Perigon Wealth Management LLC raised its stake in shares of Sylvamo by 3.6% in the 1st quarter. Perigon Wealth Management LLC now owns 9,233 shares of the company's stock valued at $619,000 after acquiring an additional 323 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Sylvamo in the 1st quarter valued at approximately $268,000. MorganRosel Wealth Management LLC raised its stake in shares of Sylvamo by 1.3% in the 1st quarter. MorganRosel Wealth Management LLC now owns 17,472 shares of the company's stock valued at $1,172,000 after acquiring an additional 223 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Sylvamo by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 185,620 shares of the company's stock valued at $12,450,000 after acquiring an additional 2,958 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Price Performance

Shares of SLVM opened at $41.98 on Friday. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $98.02. The firm's 50 day moving average price is $43.84 and its 200 day moving average price is $50.42. The company has a market cap of $1.69 billion, a P/E ratio of 8.03, a PEG ratio of 2.67 and a beta of 0.97. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.37 earnings per share 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 business had revenue of $794.00 million for the quarter, compared to analysts' expectations of $826.60 million. During the same period in the previous year, the company earned $1.98 earnings per share. Sylvamo's quarterly revenue was down 14.9% on a year-over-year basis. On average, research analysts forecast that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Sylvamo's dividend payout ratio is currently 34.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SLVM shares. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the company a "sector perform" rating in a research note on Monday, August 11th. Zacks Research raised shares of Sylvamo to a "strong sell" rating in a research note on Monday, August 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Sylvamo in a research note on Wednesday, October 8th. Finally, Bank of America reduced their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $56.50.

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.

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