Zacks Investment Management Cuts Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Zacks Investment Management cut its stake in shares of Sylvamo Co. (NYSE:SLVM - Free Report) by 94.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,210 shares of the company's stock after selling 57,433 shares during the quarter. Zacks Investment Management's holdings in Sylvamo were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Sylvamo by 182.4% during the fourth 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 period. GAMMA Investing LLC lifted its holdings in Sylvamo by 43.6% in the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company's stock worth $52,000 after buying an additional 201 shares during the period. Fifth Third Bancorp grew its position in shares of Sylvamo by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company's stock worth $58,000 after buying an additional 214 shares during the last quarter. Covestor Ltd increased its stake in shares of Sylvamo by 464.5% during the fourth quarter. Covestor Ltd now owns 779 shares of the company's stock valued at $62,000 after buying an additional 641 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sylvamo during the third quarter valued at approximately $82,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 131,894 shares of the company's stock, valued at approximately $8,591,575.16. The trade was a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.74% of the stock is currently owned by insiders.

Sylvamo Stock Down 1.4 %

Sylvamo stock traded down $0.86 during trading hours on Friday, hitting $59.55. 226,478 shares of the stock traded hands, compared to its average volume of 327,000. Sylvamo Co. has a one year low of $54.94 and a one year high of $98.02. The firm's 50-day moving average price is $64.51 and its two-hundred day moving average price is $76.89. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The company has a market cap of $2.42 billion, a PE ratio of 8.26, a PEG ratio of 2.23 and a beta of 1.17.

Sylvamo (NYSE:SLVM - Get Free Report) last released 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 return on equity of 34.72% and a net margin of 7.96%. On average, research analysts forecast that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.02%. Sylvamo's payout ratio is 24.97%.

Sylvamo Company 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.