VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Sylvamo Corporation $SLVM

Key Points

• Virginia Retirement Systems has acquired a new stake in Sylvamo Corporation, purchasing 31,875 shares valued at approximately $1,597,000, bringing their total ownership to 0.08%.
• Recent earnings reports showed that Sylvamo missed consensus estimates by $0.10 per share, reporting earnings of $0.37 for the quarter, along with a year-over-year revenue decline of 14.9%.
• Sylvamo declared a quarterly dividend of $0.45 per share, representing an annualized dividend yield of 4.2% and a payout ratio of 34.42%.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Sylvamo Corporation (NYSE:SLVM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 31,875 shares of the company's stock, valued at approximately $1,597,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.08% of Sylvamo as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock worth $200,843,000 after purchasing an additional 149,326 shares in the last quarter. LSV Asset Management grew its stake in shares of Sylvamo by 0.7% during the first quarter. LSV Asset Management now owns 1,804,055 shares of the company's stock valued at $120,998,000 after purchasing an additional 12,371 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Sylvamo by 10.6% during the first quarter. American Century Companies Inc. now owns 1,123,686 shares of the company's stock valued at $75,366,000 after purchasing an additional 107,622 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Sylvamo by 6.8% in the first quarter. Allianz Asset Management GmbH now owns 542,288 shares of the company's stock valued at $36,371,000 after acquiring an additional 34,323 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Sylvamo by 12.2% in the first quarter. Royce & Associates LP now owns 385,234 shares of the company's stock valued at $25,838,000 after acquiring an additional 42,018 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company's stock.

Wall Street Analysts Forecast Growth

SLVM has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sylvamo in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Bank of America reduced their price target on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a research report on Wednesday, July 9th. Finally, Zacks Research raised shares of Sylvamo to a "strong sell" rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $56.50.

Sylvamo Stock Down 0.1%

Shares of SLVM stock opened at $42.53 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 0.80. Sylvamo Corporation has a 1 year low of $37.51 and a 1 year high of $98.02. The firm's fifty day moving average price is $43.74 and its two-hundred day moving average price is $50.12. The firm has a market capitalization of $1.72 billion, a P/E ratio of 8.13, a PEG ratio of 2.70 and a beta of 0.97.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.10). Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The business had revenue of $794.00 million during the quarter, compared to analyst estimates of $826.60 million. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The firm's quarterly revenue was down 14.9% on a year-over-year basis. On average, equities analysts predict that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, October 3rd. Sylvamo's dividend payout ratio (DPR) is 34.42%.

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.

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