Summit Global Investments Trims Stock Position in Sylvamo Co. (NYSE:SLVM)

Summit Global Investments lowered its stake in shares of Sylvamo Co. (NYSE:SLVM) by 23.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 14,910 shares of the company’s stock after selling 4,464 shares during the period. Summit Global Investments’ holdings in Sylvamo were worth $1,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SLVM. Smartleaf Asset Management LLC increased its stake in shares of Sylvamo by 182.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $49,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Sylvamo by 43.6% in the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after purchasing an additional 201 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Sylvamo by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after purchasing an additional 214 shares in the last quarter. LRI Investments LLC increased its stake in shares of Sylvamo by 4,825.0% in the 3rd quarter. LRI Investments LLC now owns 788 shares of the company’s stock valued at $66,000 after purchasing an additional 772 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Sylvamo in the 3rd quarter valued at about $82,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SLVM shares. Bank of America restated an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research note on Wednesday, December 11th. Royal Bank of Canada lowered their price objective on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th.

Insider Transactions at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’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 transaction of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at $8,591,575.16. The trade was a 13.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

Sylvamo Trading Down 1.0 %

SLVM stock opened at $65.13 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. Sylvamo Co. has a 12-month low of $56.35 and a 12-month high of $98.02. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.23 and a beta of 1.15. The business’s 50-day moving average is $73.03 and its 200 day moving average is $80.29.

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

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s dividend payout ratio is currently 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.