Legal & General Group Plc Sells 13,258 Shares of Sylvamo Corporation $SLVM

Legal & General Group Plc decreased its stake in shares of Sylvamo Corporation (NYSE:SLVM) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,904 shares of the company’s stock after selling 13,258 shares during the quarter. Legal & General Group Plc’s holdings in Sylvamo were worth $4,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Sylvamo by 7.2% during the third quarter. American Century Companies Inc. now owns 1,290,957 shares of the company’s stock worth $57,086,000 after acquiring an additional 87,095 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of Sylvamo by 802.6% during the third quarter. WINTON GROUP Ltd now owns 65,521 shares of the company’s stock worth $2,897,000 after acquiring an additional 58,262 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Sylvamo by 2,246.7% during the fourth quarter. SG Americas Securities LLC now owns 223,568 shares of the company’s stock worth $10,765,000 after acquiring an additional 214,041 shares during the last quarter. Rock Point Advisors LLC boosted its position in shares of Sylvamo by 81.6% during the third quarter. Rock Point Advisors LLC now owns 82,049 shares of the company’s stock worth $3,628,000 after acquiring an additional 36,862 shares during the last quarter. Finally, Denali Advisors LLC boosted its position in shares of Sylvamo by 309.2% during the third quarter. Denali Advisors LLC now owns 66,400 shares of the company’s stock worth $2,936,000 after acquiring an additional 50,174 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SLVM has been the subject of a number of research reports. Truist Financial initiated coverage on shares of Sylvamo in a research report on Monday, March 30th. They set a “buy” rating and a $54.00 target price for the company. Royal Bank Of Canada dropped their target price on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Monday, May 11th. Weiss Ratings lowered shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Zacks Research upgraded shares of Sylvamo from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.00.

Sylvamo Price Performance

Sylvamo stock opened at $38.77 on Tuesday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.59 and a beta of 0.86. The firm’s fifty day moving average is $40.82 and its 200 day moving average is $45.27. The company has a quick ratio of 0.81, a current ratio of 1.45 and a debt-to-equity ratio of 0.78. Sylvamo Corporation has a 52-week low of $35.53 and a 52-week high of $56.80.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. Sylvamo’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. Sell-side analysts forecast that Sylvamo Corporation will post 2.32 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.6%. Sylvamo’s dividend payout ratio is presently 71.15%.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.