Tidal Investments LLC Takes $1.30 Million Position in Sylvamo Corporation $SLVM

Key Points

• Tidal Investments acquired 34,354 Sylvamo shares valued at approximately $1.30 million, while institutional investors collectively own 91.16% of the company.
• Sylvamo reported quarterly EPS of $0.03, exceeding estimates of $0.02, though revenue of $806 million fell short of the $811.25 million forecast. The company declared a $0.45 quarterly dividend, representing a 5.1% yield.
• Analysts have a consensus “Hold” rating and an average price target of $46.75, compared with the stock’s reported price of $35.61.

Tidal Investments LLC purchased a new position in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,354 shares of the company's stock, valued at approximately $1,299,000. Tidal Investments LLC owned approximately 0.09% of Sylvamo at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in Sylvamo by 3.2% during the second quarter. Van ECK Associates Corp now owns 13,428 shares of the company's stock worth $508,000 after purchasing an additional 411 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Sylvamo by 8.4% in the second quarter. Exchange Traded Concepts LLC now owns 6,697 shares of the company's stock valued at $253,000 after purchasing an additional 519 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Sylvamo by 46.5% in the fourth quarter. Hantz Financial Services Inc. now owns 1,720 shares of the company's stock valued at $83,000 after buying an additional 546 shares in the last quarter. Royal Bank of Canada increased its position in shares of Sylvamo by 11.4% in the first quarter. Royal Bank of Canada now owns 6,348 shares of the company's stock valued at $268,000 after buying an additional 648 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Sylvamo by 3.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 17,932 shares of the company's stock worth $757,000 after buying an additional 666 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Stock Performance

NYSE SLVM opened at $35.61 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. Sylvamo Corporation has a fifty-two week low of $34.25 and a fifty-two week high of $56.80. The business has a fifty day moving average of $37.27 and a 200-day moving average of $39.51. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.32 and a beta of 0.86.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $806.00 million for the quarter, compared to analyst estimates of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%.The business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. As a group, analysts predict that Sylvamo Corporation will post 1.53 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, October 2nd. Sylvamo's dividend payout ratio (DPR) is currently 95.74%.

Wall Street Analysts Forecast Growth

SLVM has been the topic of several recent research reports. Wells Fargo & Company started coverage on shares of Sylvamo in a research report on Wednesday. They issued an "overweight" rating and a $47.00 price objective on the stock. Truist Financial restated a "buy" rating and set a $49.00 target price (down from $51.00) on shares of Sylvamo in a report on Monday, August 10th. Royal Bank Of Canada cut their target price on shares of Sylvamo from $49.00 to $46.00 and set a "sector perform" rating for the company in a research report on Friday, July 17th. Wall Street Zen raised shares of Sylvamo from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Zacks Research lowered shares of Sylvamo from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $46.75.

Sylvamo Profile

Sylvamo Corporation NYSE: SLVM is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, education, office applications, books, envelopes and other everyday communications. Its portfolio includes consumer and business paper brands such as Hammermill, along with products sold under regional and private-label brands.

Sylvamo serves customers through operations and distribution networks in North America, Latin America and Europe. Its products are sold to merchants, retailers, businesses, publishers, printers and other commercial customers.

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