Voya Investment Management LLC Has $1.96 Million Holdings in Sylvamo Corporation $SLVM

Key Points

• Voya Investment Management LLC significantly increased its stake in Sylvamo Corporation by 116.5% in the first quarter, bringing its total ownership to approximately 0.07% worth around $1.95 million.
• Analysts have mixed opinions on Sylvamo's stock; the Royal Bank of Canada set a price target of $49.00 while some agencies issued "sell" ratings, resulting in an average target price of $71.00.
• Sylvamo recently reported a quarterly loss with EPS of $0.37, missing the estimates of $0.47, and declared a quarterly dividend of $0.45 per share, which translates to an annual yield of 4.1%.

Voya Investment Management LLC grew its position in Sylvamo Corporation (NYSE:SLVM - Free Report) by 116.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,153 shares of the company's stock after purchasing an additional 15,689 shares during the period. Voya Investment Management LLC owned approximately 0.07% of Sylvamo worth $1,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Sylvamo in the 1st quarter worth approximately $61,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Sylvamo in the 1st quarter worth approximately $200,000. James Investment Research Inc. acquired a new stake in shares of Sylvamo in the 1st quarter worth approximately $251,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Sylvamo in the 1st quarter worth approximately $263,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Sylvamo in the 1st quarter worth approximately $268,000. Institutional investors own 91.16% of the company's stock.

Analyst Upgrades and Downgrades

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

Sylvamo Stock Down 1.4%

Sylvamo stock traded down $0.63 during trading hours on Monday, hitting $43.12. The company had a trading volume of 421,299 shares, compared to its average volume of 406,567. The firm has a market capitalization of $1.74 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 2.46 and a beta of 1.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.54 and a quick ratio of 0.91. The firm's fifty day moving average is $45.83 and its 200-day moving average is $53.58. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $98.02.

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

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. Sylvamo's dividend payout ratio 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.