Vident Advisory LLC Boosts Holdings in Sylvamo Corporation $SLVM

Key Points

• Vident Advisory LLC increased its stake in Sylvamo Corporation by 30.7%, acquiring an additional 8,483 shares in the first quarter, bringing its total holdings to 36,118 shares valued at approximately $2.42 million.
• In the most recent quarterly earnings report, Sylvamo Corporation reported $0.37 earnings per share, missing expectations by $0.10, and a 14.9% year-over-year revenue decline.
• Analysts have mixed ratings for Sylvamo stock, with a majority advising to "Reduce" and price targets varying between $49 and $71, indicating uncertainty about the company's future performance.

Vident Advisory LLC raised its stake in shares of Sylvamo Corporation (NYSE:SLVM - Free Report) by 30.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,118 shares of the company's stock after purchasing an additional 8,483 shares during the quarter. Vident Advisory LLC owned about 0.09% of Sylvamo worth $2,422,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock valued at $200,843,000 after purchasing an additional 149,326 shares in the last quarter. LSV Asset Management increased its stake in shares of Sylvamo by 0.7% in the first quarter. LSV Asset Management now owns 1,804,055 shares of the company's stock worth $120,998,000 after acquiring an additional 12,371 shares during the period. American Century Companies Inc. increased its stake in shares of Sylvamo by 10.6% in the first quarter. American Century Companies Inc. now owns 1,123,686 shares of the company's stock worth $75,366,000 after acquiring an additional 107,622 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Sylvamo by 6.8% in the first quarter. Allianz Asset Management GmbH now owns 542,288 shares of the company's stock worth $36,371,000 after acquiring an additional 34,323 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Sylvamo by 6.9% in the fourth quarter. Northern Trust Corp now owns 403,900 shares of the company's stock worth $31,916,000 after acquiring an additional 25,934 shares during the period. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Stock Performance

NYSE SLVM traded up $0.47 during mid-day trading on Thursday, reaching $44.55. 275,357 shares of the stock were exchanged, compared to its average volume of 364,135. The business's 50 day moving average is $47.63 and its 200-day moving average is $55.90. Sylvamo Corporation has a 1 year low of $37.51 and a 1 year high of $98.02. The company has a market capitalization of $1.80 billion, a P/E ratio of 8.52, a P/E/G ratio of 2.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 1.54.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results 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). Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The firm had revenue of $794.00 million for the quarter, compared to analysts' expectations of $826.60 million. During the same period last year, the company posted $1.98 earnings per share. The business's quarterly revenue was down 14.9% on a year-over-year basis. On average, equities research analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of Sylvamo to a "strong sell" rating in a research note on Monday, August 11th. Bank of America cut their price objective on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada set a $49.00 price objective on shares of Sylvamo and gave the stock a "sector perform" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Sylvamo presently has an average rating of "Reduce" and a consensus target price of $71.00.

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.