Sylvamo Co. (NYSE:SLVM) Shares Purchased by Northern Trust Corp

Northern Trust Corp grew its stake in shares of Sylvamo Co. (NYSE:SLVM) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 403,900 shares of the company’s stock after acquiring an additional 25,934 shares during the quarter. Northern Trust Corp owned about 0.98% of Sylvamo worth $31,916,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $49,000 after purchasing an additional 403 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Sylvamo by 43.6% in the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after buying an additional 201 shares during the period. Fifth Third Bancorp boosted its holdings in Sylvamo by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after acquiring an additional 214 shares during the last quarter. Covestor Ltd increased its stake in Sylvamo by 464.5% during the fourth quarter. Covestor Ltd now owns 779 shares of the company’s stock worth $62,000 after acquiring an additional 641 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Sylvamo by 80.2% in the 4th quarter. KBC Group NV now owns 1,836 shares of the company’s stock worth $145,000 after purchasing an additional 817 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the transaction, the chief executive officer now owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. This represents a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada decreased their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th.

Sylvamo Stock Down 12.4 %

Shares of Sylvamo stock opened at $52.72 on Friday. The company has a fifty day moving average price of $62.41 and a 200 day moving average price of $75.06. 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 twelve month low of $51.60 and a twelve month high of $98.02. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 2.23 and a beta of 1.18.

Sylvamo (NYSE:SLVM) last posted its earnings results on Friday, May 9th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. Sylvamo’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. Equities research analysts forecast that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.41%. Sylvamo’s payout ratio is currently 26.32%.

About Sylvamo

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.