Harvest Investment Services LLC Invests $600,000 in Sylvamo Co. (NYSE:SLVM)

Harvest Investment Services LLC acquired a new stake in Sylvamo Co. (NYSE:SLVM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,588 shares of the company's stock, valued at approximately $600,000.

Several other hedge funds have also added to or reduced their stakes in SLVM. Smartleaf Asset Management LLC raised its holdings in Sylvamo by 182.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company's stock worth $49,000 after purchasing an additional 403 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Sylvamo by 43.6% in the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company's stock valued at $52,000 after buying an additional 201 shares during the period. Fifth Third Bancorp boosted its position in Sylvamo by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company's stock valued at $58,000 after acquiring an additional 214 shares during the last quarter. Covestor Ltd raised its position in shares of Sylvamo by 464.5% in the 4th quarter. Covestor Ltd now owns 779 shares of the company's stock worth $62,000 after acquiring an additional 641 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sylvamo in the 3rd quarter valued at about $82,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the transaction, the chief executive officer now directly owns 131,894 shares of the company's stock, valued at $8,591,575.16. This represents a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by insiders.

Sylvamo Stock Up 0.4 %

SLVM traded up $0.23 during trading on Monday, hitting $59.80. 47,478 shares of the company's stock were exchanged, compared to its average volume of 326,282. Sylvamo Co. has a fifty-two week low of $54.94 and a fifty-two week high of $98.02. The stock has a market cap of $2.43 billion, a P/E ratio of 8.28, a PEG ratio of 2.23 and a beta of 1.17. The business's 50 day moving average is $64.51 and its two-hundred day moving average is $76.82. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. As a group, equities analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo's payout ratio is currently 24.97%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lowered their target price on Sylvamo from $83.00 to $80.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th.

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.