Teacher Retirement System of Texas Has $2.63 Million Position in Sylvamo Corporation (NYSE:SLVM)

Teacher Retirement System of Texas decreased its holdings in Sylvamo Corporation (NYSE:SLVM - Free Report) by 42.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,196 shares of the company's stock after selling 28,989 shares during the quarter. Teacher Retirement System of Texas owned 0.10% of Sylvamo worth $2,629,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SLVM. Steward Partners Investment Advisory LLC grew its position in Sylvamo by 12.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock worth $159,000 after buying an additional 218 shares during the last quarter. Victory Capital Management Inc. grew its position in Sylvamo by 2.2% in the fourth quarter. Victory Capital Management Inc. now owns 36,928 shares of the company's stock worth $2,918,000 after buying an additional 812 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Sylvamo during the 4th quarter worth approximately $1,286,000. Raymond James Financial Inc. purchased a new position in Sylvamo during the 4th quarter worth approximately $3,632,000. Finally, Edgestream Partners L.P. purchased a new position in Sylvamo during the 4th quarter worth approximately $547,000. Institutional investors and hedge funds own 91.16% of the company's stock.

Wall Street Analyst Weigh In

SLVM has been the topic of several research analyst reports. Bank of America lowered their price objective on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research report on Wednesday. Royal Bank Of Canada lowered their price objective on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th.

Sylvamo Trading Down 3.7%

NYSE SLVM traded down $1.96 on Friday, hitting $51.05. 224,413 shares of the stock were exchanged, compared to its average volume of 323,834. Sylvamo Corporation has a 52-week low of $49.93 and a 52-week high of $98.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 7.46, a P/E/G ratio of 2.01 and a beta of 1.01. The company's 50-day moving average price is $53.53 and its two-hundred day moving average price is $64.17.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The company had revenue of $821.00 million for the quarter, compared to analyst estimates of $819.61 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. Research analysts predict that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo's dividend payout ratio (DPR) is currently 26.32%.

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.