Renaissance Technologies LLC Cuts Stake in Sylvamo Co. (NYSE:SLVM)

Renaissance Technologies LLC lessened its holdings in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 145,600 shares of the company's stock after selling 5,600 shares during the quarter. Renaissance Technologies LLC owned about 0.36% of Sylvamo worth $11,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SLVM. Invesco Ltd. increased its holdings in Sylvamo by 27.5% in the 4th quarter. Invesco Ltd. now owns 375,231 shares of the company's stock valued at $29,651,000 after acquiring an additional 80,895 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Sylvamo by 10.3% in the 4th quarter. Bank of Montreal Can now owns 6,304 shares of the company's stock worth $498,000 after buying an additional 587 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Sylvamo by 1.9% in the 4th quarter. Federated Hermes Inc. now owns 51,264 shares of the company's stock valued at $4,051,000 after acquiring an additional 956 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Sylvamo by 15.2% during the fourth quarter. Wells Fargo & Company MN now owns 33,278 shares of the company's stock worth $2,630,000 after buying an additional 4,394 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in Sylvamo during the fourth quarter valued at $1,891,000. Institutional investors own 91.16% of the company's stock.

Analysts Set New Price Targets

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

Sylvamo Stock Down 2.3 %

Shares of SLVM traded down $1.43 during mid-day trading on Monday, hitting $59.31. 6,807 shares of the company traded hands, compared to its average volume of 323,472. The company has a market capitalization of $2.41 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. Sylvamo Co. has a 1-year low of $54.94 and a 1-year high of $98.02. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average of $65.74 and a 200 day moving average of $77.61.

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

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 3.04%. Sylvamo's dividend payout ratio is presently 24.97%.

Insider Buying and Selling at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the transaction, the chief executive officer now owns 131,894 shares in the company, valued at approximately $8,591,575.16. This trade represents a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.74% of the stock is owned by insiders.

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.