Louisiana State Employees Retirement System Buys Shares of 14,700 Sylvamo Corporation $SLVM

Louisiana State Employees Retirement System purchased a new position in shares of Sylvamo Corporation (NYSE:SLVM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,700 shares of the company’s stock, valued at approximately $621,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted its stake in Sylvamo by 605.9% during the 4th quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock valued at $107,529,000 after acquiring an additional 1,916,829 shares during the last quarter. Jain Global LLC acquired a new position in Sylvamo in the fourth quarter worth about $39,072,000. William Blair Investment Management LLC bought a new stake in Sylvamo in the fourth quarter valued at about $33,777,000. Nomura Holdings Inc. raised its stake in Sylvamo by 34.1% during the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock valued at $95,073,000 after buying an additional 546,336 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Sylvamo during the 2nd quarter worth approximately $15,030,000. Institutional investors own 91.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SLVM. Zacks Research upgraded Sylvamo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada decreased their price target on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Truist Financial began coverage on shares of Sylvamo in a report on Monday, March 30th. They issued a “buy” rating and a $54.00 target price on the stock. Finally, Weiss Ratings cut Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.00.

Insider Activity at Sylvamo

In related news, Director Lizanne M. Bruce sold 1,230 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $41.70, for a total value of $51,291.00. Following the completion of the sale, the director owned 14,475 shares in the company, valued at approximately $603,607.50. This represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.81% of the company’s stock.

Sylvamo Stock Performance

SLVM opened at $38.75 on Wednesday. Sylvamo Corporation has a 1-year low of $35.53 and a 1-year high of $56.80. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.60 and a beta of 0.87. The business has a 50 day moving average price of $39.66 and a two-hundred day moving average price of $43.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.45 and a quick ratio of 0.81.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.28). Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. During the same quarter last year, the company earned $0.68 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts predict that Sylvamo Corporation will post 2.32 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, July 7th. Sylvamo’s dividend payout ratio (DPR) is presently 71.15%.

Sylvamo 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.