SummitTX Capital L.P. Takes Position in Sylvamo Corporation $SLVM

SummitTX Capital L.P. bought a new stake in Sylvamo Corporation (NYSE:SLVM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 53,652 shares of the company’s stock, valued at approximately $2,266,000.

Other large investors also recently bought and sold shares of the company. Royce & Associates LP raised its position in shares of Sylvamo by 8.6% during the 4th quarter. Royce & Associates LP now owns 464,401 shares of the company’s stock valued at $22,361,000 after buying an additional 36,685 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sylvamo by 9.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,135 shares of the company’s stock valued at $31,063,000 after acquiring an additional 56,393 shares during the last quarter. Bleakley Financial Group LLC grew its position in Sylvamo by 297.9% in the fourth quarter. Bleakley Financial Group LLC now owns 40,421 shares of the company’s stock worth $1,946,000 after acquiring an additional 30,263 shares in the last quarter. UBS Group AG grew its position in Sylvamo by 172.0% in the fourth quarter. UBS Group AG now owns 338,414 shares of the company’s stock worth $16,295,000 after acquiring an additional 214,016 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Sylvamo by 84,243.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 128,202 shares of the company’s stock worth $6,173,000 after acquiring an additional 128,050 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Performance

Shares of NYSE:SLVM opened at $38.94 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Sylvamo Corporation has a 12 month low of $35.53 and a 12 month high of $56.80. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.92 and a beta of 0.87. The firm’s 50-day moving average is $38.84 and its 200 day moving average is $42.87.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.28). Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $740.85 million. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Research analysts predict that Sylvamo Corporation will post 1.99 EPS for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, July 7th. Sylvamo’s dividend payout ratio is presently 71.15%.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages have issued reports on SLVM. Royal Bank Of Canada decreased their price objective on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. Wall Street Zen cut Sylvamo from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research downgraded Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings lowered Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Truist Financial lowered their price target on Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Sylvamo has an average rating of “Reduce” and a consensus target price of $47.33.

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.