Bleakley Financial Group LLC Purchases Shares of 11,599 Sylvamo Corporation $SLVM

Bleakley Financial Group LLC purchased a new stake in Sylvamo Corporation (NYSE:SLVM) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 11,599 shares of the company’s stock, valued at approximately $581,000.

Several other hedge funds also recently added to or reduced their stakes in SLVM. Perigon Wealth Management LLC increased its stake in Sylvamo by 3.6% in the first quarter. Perigon Wealth Management LLC now owns 9,233 shares of the company’s stock valued at $619,000 after purchasing an additional 323 shares during the last quarter. Highland Capital Management LLC purchased a new position in shares of Sylvamo during the first quarter worth approximately $268,000. MorganRosel Wealth Management LLC grew its position in shares of Sylvamo by 1.3% during the first quarter. MorganRosel Wealth Management LLC now owns 17,472 shares of the company’s stock worth $1,172,000 after acquiring an additional 223 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Sylvamo by 1.6% during the first quarter. Principal Financial Group Inc. now owns 185,620 shares of the company’s stock worth $12,450,000 after acquiring an additional 2,958 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in shares of Sylvamo by 19.4% during the first quarter. Alps Advisors Inc. now owns 5,473 shares of the company’s stock worth $367,000 after acquiring an additional 890 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Stock Performance

NYSE:SLVM opened at $42.85 on Monday. Sylvamo Corporation has a 1-year low of $37.51 and a 1-year high of $98.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.54 and a quick ratio of 0.91. The firm’s fifty day moving average price is $43.71 and its 200 day moving average price is $49.80. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 8.19 and a beta of 0.97.

Sylvamo (NYSE:SLVM) last released its 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 net margin of 6.11% and a return on equity of 23.99%. The business had revenue of $794.00 million during the quarter, compared to analyst estimates of $826.60 million. During the same period last year, the business posted $1.98 EPS. Sylvamo’s revenue was down 14.9% compared to the same quarter last year. On average, sell-side analysts expect that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. Sylvamo’s dividend payout ratio (DPR) is 34.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently 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 research report on Monday, August 11th. Zacks Research upgraded shares of Sylvamo to a “strong sell” rating in a research report on Monday, August 11th. Bank of America lowered their price objective on shares of Sylvamo from $67.00 to $64.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Sylvamo in a research report on Friday. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $56.50.

Sylvamo Company 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.