First Citizens Bank & Trust Co. Raises Stake in Sylvamo Corporation $SLVM

First Citizens Bank & Trust Co. boosted its holdings in shares of Sylvamo Corporation (NYSE:SLVM) by 203.8% in the second quarter, HoldingsChannel reports. The fund owned 9,078 shares of the company’s stock after acquiring an additional 6,090 shares during the period. First Citizens Bank & Trust Co.’s holdings in Sylvamo were worth $455,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company’s stock valued at $200,843,000 after acquiring an additional 149,326 shares during the period. LSV Asset Management lifted its position in Sylvamo by 0.7% during the 1st quarter. LSV Asset Management now owns 1,804,055 shares of the company’s stock valued at $120,998,000 after acquiring an additional 12,371 shares during the period. American Century Companies Inc. lifted its position in Sylvamo by 10.6% during the 1st quarter. American Century Companies Inc. now owns 1,123,686 shares of the company’s stock valued at $75,366,000 after acquiring an additional 107,622 shares during the period. Allianz Asset Management GmbH lifted its position in Sylvamo by 6.8% during the 1st quarter. Allianz Asset Management GmbH now owns 542,288 shares of the company’s stock valued at $36,371,000 after acquiring an additional 34,323 shares during the period. Finally, Royce & Associates LP raised its holdings in Sylvamo by 12.2% in the first quarter. Royce & Associates LP now owns 385,234 shares of the company’s stock worth $25,838,000 after buying an additional 42,018 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Stock Performance

Shares of SLVM stock opened at $42.85 on Friday. The company has a 50 day moving average price of $43.71 and a 200-day moving average price of $49.88. Sylvamo Corporation has a 52 week low of $37.51 and a 52 week high of $98.02. The firm has a market capitalization of $1.73 billion, a PE ratio of 8.19, a P/E/G ratio of 2.72 and a beta of 0.97. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 0.80.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The company had revenue of $794.00 million during the quarter, compared to the consensus estimate of $826.60 million. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The business’s revenue was down 14.9% compared to the same quarter last year. As a group, equities research analysts expect that Sylvamo Corporation will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were paid a $0.45 dividend. The ex-dividend date was Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. Sylvamo’s payout ratio is currently 34.42%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SLVM shares. Royal Bank Of Canada set a $49.00 target price on shares of Sylvamo and gave the stock a “sector perform” rating in a report on Monday, August 11th. Bank of America decreased their target price on shares of Sylvamo from $67.00 to $64.00 and set an “underperform” rating for the company in a report on Wednesday, July 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a report on Friday. Finally, Zacks Research raised shares of Sylvamo to a “strong sell” rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $56.50.

Sylvamo Profile

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.