Fifth Third Bancorp Acquires 18,703 Shares of Sylvamo Corporation $SLVM

Fifth Third Bancorp grew its holdings in shares of Sylvamo Corporation (NYSE:SLVM) by 3,457.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,244 shares of the company’s stock after purchasing an additional 18,703 shares during the period. Fifth Third Bancorp’s holdings in Sylvamo were worth $813,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SLVM. Inspire Investing LLC increased its stake in Sylvamo by 410,233.3% during the 1st quarter. Inspire Investing LLC now owns 12,310 shares of the company’s stock worth $520,000 after acquiring an additional 12,307 shares during the period. Louisiana State Employees Retirement System acquired a new position in Sylvamo in the 1st quarter valued at $621,000. LMG Wealth Partners LLC lifted its position in shares of Sylvamo by 40.5% during the 1st quarter. LMG Wealth Partners LLC now owns 12,133 shares of the company’s stock valued at $512,000 after acquiring an additional 3,498 shares during the period. SG Americas Securities LLC lifted its position in shares of Sylvamo by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 242,221 shares of the company’s stock valued at $10,231,000 after acquiring an additional 18,653 shares during the period. Finally, Corient Private Wealth LLC acquired a new stake in shares of Sylvamo during the 4th quarter worth $219,000. 91.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SLVM shares. Bank of America restated a “neutral” rating and issued a $45.00 price target on shares of Sylvamo in a research report on Tuesday, July 14th. Weiss Ratings downgraded shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Sylvamo from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada dropped their target price on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research report on Friday, July 17th. Finally, Zacks Research downgraded shares of Sylvamo from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $47.33.

Insider Activity at Sylvamo

In other news, Director Lizanne M. Bruce sold 1,230 shares of the firm’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 sale, the director directly owned 14,475 shares in the company, valued at approximately $603,607.50. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

Sylvamo Price Performance

Sylvamo stock opened at $37.65 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.45. Sylvamo Corporation has a 52 week low of $35.53 and a 52 week high of $56.80. The stock has a market capitalization of $1.50 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. The stock has a fifty day moving average of $38.78 and a 200-day moving average of $42.93.

Sylvamo (NYSE:SLVM) last released 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 business had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. During the same period last year, the business earned $0.68 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Sylvamo Corporation will post 2.2 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.8%. Sylvamo’s dividend payout ratio is 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.