Invesco Ltd. Sells 34,010 Shares of Sylvamo Corporation $SLVM

Key Points

• Invesco Ltd. reduced its stake in Sylvamo Corporation by 9.1%, selling 34,010 shares and now holds approximately 0.84% of the company worth $22.9 million.
• Several institutional investors, including Vanguard Group and Victory Capital Management, have increased their holdings significantly, with Victory Capital raising its investment by 351.8%.
• Sylvamo reported an EPS of $0.37 for the last quarter, missing the consensus estimate by $0.10, with a year-over-year revenue decline of 14.9%.

Invesco Ltd. lowered its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 341,221 shares of the company's stock after selling 34,010 shares during the period. Invesco Ltd. owned about 0.84% of Sylvamo worth $22,886,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted 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 valued at $200,843,000 after buying an additional 149,326 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Sylvamo in the 1st quarter valued at $349,000. LSV Asset Management lifted its stake in shares of Sylvamo by 0.7% in the 1st quarter. LSV Asset Management now owns 1,804,055 shares of the company's stock valued at $120,998,000 after purchasing an additional 12,371 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Sylvamo in the 1st quarter valued at $688,000. Finally, Foster & Motley Inc. lifted its stake in shares of Sylvamo by 52.1% in the 1st quarter. Foster & Motley Inc. now owns 36,275 shares of the company's stock valued at $2,433,000 after purchasing an additional 12,425 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Sylvamo to a "strong sell" rating in a research note on Monday, August 11th. Bank of America reduced their price objective 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. Finally, Royal Bank Of Canada set a $49.00 price objective on shares of Sylvamo and gave the company a "sector perform" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $71.00.

Sylvamo Stock Performance

Sylvamo stock traded up $2.91 on Friday, reaching $44.49. 557,529 shares of the stock were exchanged, compared to its average volume of 458,591. The stock has a market cap of $1.80 billion, a PE ratio of 8.51, a PEG ratio of 2.50 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. Sylvamo Corporation has a twelve month low of $37.51 and a twelve month high of $98.02. The firm has a fifty day moving average price of $48.48 and a two-hundred day moving average price of $57.40.

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

Sylvamo 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.