JPMorgan Chase & Co. Has $11.18 Million Position in Sylvamo Co. (NYSE:SLVM)

JPMorgan Chase & Co. increased its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 62.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,524 shares of the company's stock after purchasing an additional 54,172 shares during the quarter. JPMorgan Chase & Co. owned about 0.35% of Sylvamo worth $11,183,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. HighTower Advisors LLC raised its holdings in Sylvamo by 473.5% during the 3rd quarter. HighTower Advisors LLC now owns 18,467 shares of the company's stock worth $1,587,000 after purchasing an additional 15,247 shares during the last quarter. State Street Corp grew its position in shares of Sylvamo by 0.9% during the 3rd quarter. State Street Corp now owns 1,407,303 shares of the company's stock worth $120,817,000 after buying an additional 12,181 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Sylvamo by 5.0% during the third quarter. Orion Portfolio Solutions LLC now owns 9,046 shares of the company's stock worth $777,000 after buying an additional 431 shares during the last quarter. Barclays PLC raised its stake in shares of Sylvamo by 324.6% during the third quarter. Barclays PLC now owns 62,435 shares of the company's stock worth $5,360,000 after buying an additional 47,730 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Sylvamo by 3.1% in the third quarter. Geode Capital Management LLC now owns 915,997 shares of the company's stock valued at $78,652,000 after buying an additional 27,859 shares during the period. Institutional investors and hedge funds own 91.16% of the company's stock.

Sylvamo Trading Up 2.0 %

Shares of Sylvamo stock traded up $1.19 during trading on Friday, hitting $60.67. 323,125 shares of the company were exchanged, compared to its average volume of 324,986. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. The firm has a market capitalization of $2.47 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The firm's fifty day moving average price is $65.74 and its 200 day moving average price is $77.67. Sylvamo Co. has a 1-year low of $54.94 and a 1-year high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, topping 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, sell-side analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 2.97%. Sylvamo's dividend payout ratio is presently 24.97%.

Insider Buying and Selling at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $65.53, for a total transaction of $1,392,512.50. Following the sale, the chief executive officer now directly owns 153,144 shares in the company, valued at approximately $10,035,526.32. This trade represents a 12.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

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

Sylvamo Profile

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.