Victory Capital Management Inc. Boosts Stock Position in Sylvamo Corporation (NYSE:SLVM)

Victory Capital Management Inc. boosted its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 351.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,844 shares of the company's stock after buying an additional 129,916 shares during the period. Victory Capital Management Inc. owned approximately 0.41% of Sylvamo worth $11,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLVM. Covestor Ltd boosted its stake in Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after purchasing an additional 641 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in Sylvamo in the first quarter valued at approximately $200,000. DRW Securities LLC purchased a new position in Sylvamo in the fourth quarter valued at approximately $225,000. NDVR Inc. raised its holdings in Sylvamo by 9.2% during the 4th quarter. NDVR Inc. now owns 3,196 shares of the company's stock valued at $253,000 after acquiring an additional 268 shares during the period. Finally, Corton Capital Inc. bought a new stake in Sylvamo during the 4th quarter valued at $258,000. 91.16% of the stock is owned by institutional investors.

Sylvamo Price Performance

Shares of Sylvamo stock traded up $0.53 during trading on Friday, hitting $49.52. The stock had a trading volume of 177,647 shares, compared to its average volume of 286,417. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 1.95 and a beta of 1.01. Sylvamo Corporation has a 12 month low of $47.85 and a 12 month high of $98.02. The business's 50-day moving average is $52.10 and its 200 day moving average is $62.14. The company has a current ratio of 1.64, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.

Sylvamo (NYSE:SLVM - Get Free Report) last released its 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). The firm had revenue of $821.00 million during the quarter, compared to the consensus estimate of $819.61 million. Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The firm's revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. As a group, sell-side analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, July 8th. This represents a $1.80 annualized dividend and a yield of 3.64%. Sylvamo's payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

SLVM has been the topic of several research analyst reports. Royal Bank Of Canada decreased their price target on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Bank of America decreased their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a report on Wednesday, July 9th.

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.