LSV Asset Management Sells 8,878 Shares of Sylvamo Co. (NYSE:SLVM)

LSV Asset Management cut its stake in Sylvamo Co. (NYSE:SLVM) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,749,109 shares of the company’s stock after selling 8,878 shares during the quarter. LSV Asset Management owned 4.25% of Sylvamo worth $119,989,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC increased its stake in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Sylvamo by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock worth $1,165,000 after buying an additional 216 shares during the period. Fifth Third Bancorp lifted its holdings in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares in the last quarter. Vise Technologies Inc. grew its stake in Sylvamo by 2.4% in the fourth quarter. Vise Technologies Inc. now owns 13,210 shares of the company’s stock valued at $649,000 after acquiring an additional 312 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in shares of Sylvamo by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after acquiring an additional 400 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SLVM shares. Royal Bank of Canada lifted their price objective on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Bank of America reiterated a “neutral” rating and issued a $82.00 price target (up previously from $71.00) on shares of Sylvamo in a report on Monday, August 12th.

Sylvamo Stock Down 2.0 %

SLVM stock opened at $74.55 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05. The stock has a market capitalization of $3.06 billion, a P/E ratio of 15.90, a P/E/G ratio of 4.40 and a beta of 1.07. Sylvamo Co. has a fifty-two week low of $39.36 and a fifty-two week high of $81.06. The business has a 50-day moving average of $72.81 and a 200-day moving average of $67.36.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The firm had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. During the same quarter in the prior year, the firm posted $1.14 EPS. The business’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

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.