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

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

Other hedge funds have also modified their holdings of the company. Covestor Ltd grew its stake in shares of Sylvamo by 464.5% during the fourth quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after acquiring an additional 641 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Sylvamo by 12.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company's stock valued at $159,000 after purchasing an additional 218 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Sylvamo during the 1st quarter worth approximately $200,000. DRW Securities LLC purchased a new stake in Sylvamo during the 4th quarter worth approximately $225,000. Finally, Vestcor Inc acquired a new position in shares of Sylvamo in the 4th quarter valued at approximately $246,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SLVM shares. Bank of America decreased their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating for the company in a research report on Wednesday. Royal Bank Of Canada lowered their price target on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a report on Monday, May 12th.

Sylvamo Stock Performance

Shares of SLVM traded down $1.96 during mid-day trading on Friday, reaching $51.05. 224,413 shares of the company's stock traded hands, compared to its average volume of 323,904. Sylvamo Corporation has a 12 month low of $49.93 and a 12 month high of $98.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.64. The stock has a market capitalization of $2.08 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 2.09 and a beta of 1.01. The business's 50-day moving average price is $53.53 and its 200-day moving average price is $64.29.

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

Sylvamo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.53%. Sylvamo's dividend payout ratio is currently 26.32%.

About Sylvamo

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.