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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Citizens Bank & Trust Co. bought a new position in shares of Sylvamo in the first quarter worth about $200,000. NDVR Inc. lifted its holdings in shares of Sylvamo by 9.2% in the fourth quarter. NDVR Inc. now owns 3,196 shares of the company's stock worth $253,000 after acquiring an additional 268 shares during the last quarter. Corton Capital Inc. bought a new position in shares of Sylvamo in the fourth quarter worth about $258,000. James Investment Research Inc. bought a new position in shares of Sylvamo in the first quarter worth about $251,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Sylvamo in the first quarter worth about $263,000. Institutional investors own 91.16% of the company's stock.

Sylvamo Trading Down 0.3%

NYSE SLVM traded down $0.13 during trading hours on Tuesday, reaching $44.59. The company's stock had a trading volume of 713,302 shares, compared to its average volume of 483,069. The firm has a fifty day simple moving average of $48.22 and a 200-day simple moving average of $56.94. The stock has a market cap of $1.80 billion, a P/E ratio of 8.53, a P/E/G ratio of 2.51 and a beta of 1.00. Sylvamo Corporation has a 52 week low of $37.51 and a 52 week high of $98.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.54 and a quick ratio of 0.91.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.10). The business had revenue of $794.00 million during the quarter, compared to the consensus estimate of $826.60 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The firm's quarterly revenue was down 14.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.98 EPS. Equities analysts forecast that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLVM. Royal Bank Of Canada set a $49.00 target price on shares of Sylvamo and gave the stock a "sector perform" rating in a report on Monday, August 11th. 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 report on Wednesday, July 9th. Finally, Zacks Research raised shares of Sylvamo to a "strong sell" rating in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price of $71.00.

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.