Advisors Preferred LLC Buys Shares of 31,601 Sylvamo Corporation $SLVM

Advisors Preferred LLC bought a new position in shares of Sylvamo Corporation (NYSE:SLVMFree Report) in the 1st quarter, HoldingsChannel.com reports. The fund bought 31,601 shares of the company’s stock, valued at approximately $1,335,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Millennium Management LLC increased its position in Sylvamo by 605.9% during the 4th quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock worth $107,529,000 after purchasing an additional 1,916,829 shares in the last quarter. Nomura Holdings Inc. boosted its position in Sylvamo by 34.1% in the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock valued at $95,073,000 after buying an additional 546,336 shares in the last quarter. State Street Corp grew its stake in shares of Sylvamo by 2.6% during the fourth quarter. State Street Corp now owns 1,341,850 shares of the company’s stock worth $64,610,000 after buying an additional 34,551 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Sylvamo by 12.5% during the third quarter. Wasatch Advisors LP now owns 941,999 shares of the company’s stock worth $41,655,000 after buying an additional 104,778 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Sylvamo by 1.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 857,895 shares of the company’s stock worth $41,308,000 after buying an additional 8,860 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Insider Activity

In other news, Director Lizanne M. Bruce sold 1,230 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $603,607.50. This represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SLVM shares. Truist Financial assumed coverage on Sylvamo in a research note on Monday, March 30th. They issued a “buy” rating and a $54.00 price target for the company. Bank of America reiterated a “neutral” rating and issued a $45.00 target price on shares of Sylvamo in a research report on Tuesday. Zacks Research raised Sylvamo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada reduced their price target on Sylvamo from $50.00 to $49.00 and set a “sector perform” rating on the stock in a report on Monday, May 11th. Finally, Weiss Ratings downgraded Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sylvamo has an average rating of “Hold” and an average price target of $49.33.

Read Our Latest Report on Sylvamo

Sylvamo Stock Performance

NYSE SLVM opened at $37.97 on Wednesday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.60 and a beta of 0.87. Sylvamo Corporation has a twelve month low of $35.53 and a twelve month high of $56.80. The stock has a fifty day simple moving average of $39.19 and a 200 day simple moving average of $43.58. The company has a quick ratio of 0.81, a current ratio of 1.45 and a debt-to-equity ratio of 0.78.

Sylvamo (NYSE:SLVMGet Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $740.85 million. Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. Sell-side analysts expect that Sylvamo Corporation will post 2.32 EPS for the current year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 7th will be given a $0.45 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.7%. Sylvamo’s payout ratio is 71.15%.

About Sylvamo

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sylvamo (NYSE:SLVM)

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