Geode Capital Management LLC Purchases 6,989 Shares of Sylvamo Corporation $SLVM

Geode Capital Management LLC grew its holdings in Sylvamo Corporation (NYSE:SLVM) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 985,834 shares of the company’s stock after purchasing an additional 6,989 shares during the quarter. Geode Capital Management LLC owned about 2.42% of Sylvamo worth $49,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Sylvamo in the first quarter valued at approximately $61,000. Blue Trust Inc. lifted its position in shares of Sylvamo by 54.0% during the 2nd quarter. Blue Trust Inc. now owns 1,209 shares of the company’s stock valued at $61,000 after acquiring an additional 424 shares during the period. RHS Financial LLC boosted its stake in Sylvamo by 14.6% during the second quarter. RHS Financial LLC now owns 4,691 shares of the company’s stock worth $235,000 after acquiring an additional 596 shares in the last quarter. LMG Wealth Partners LLC acquired a new stake in Sylvamo in the second quarter worth $260,000. Finally, Savant Capital LLC bought a new stake in Sylvamo in the second quarter valued at $260,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $45.79 on Tuesday. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $96.42. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 10.48 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.52. The firm’s 50-day simple moving average is $43.40 and its 200 day simple moving average is $47.33.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, November 7th. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.13). The company had revenue of $846.00 million for the quarter, compared to the consensus estimate of $840.32 million. Sylvamo had a return on equity of 19.72% and a net margin of 5.25%.The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share. As a group, research analysts anticipate that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were paid a dividend of $0.45 per share. The ex-dividend date was Friday, October 3rd. This represents a $1.80 annualized dividend and a yield of 3.9%. Sylvamo’s dividend payout ratio (DPR) is 41.19%.

Analysts Set New Price Targets

SLVM has been the subject of several research reports. Royal Bank Of Canada raised their target price on Sylvamo from $47.00 to $49.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Bank of America upgraded Sylvamo from an “underperform” rating to a “buy” rating and increased their price target for the stock from $41.00 to $59.00 in a report on Monday, November 17th. Zacks Research raised Sylvamo to a “strong sell” rating in a research note on Monday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Sylvamo in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sylvamo has a consensus rating of “Hold” and a consensus price target of $54.00.

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.