Sylvamo Corporation $SLVM Holdings Raised by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Sylvamo Corporation (NYSE:SLVM) by 17.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,076 shares of the company’s stock after purchasing an additional 1,821 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Sylvamo were worth $605,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Sylvamo in the 1st quarter worth about $61,000. First Citizens Bank & Trust Co. acquired a new stake in Sylvamo during the first quarter worth about $200,000. James Investment Research Inc. bought a new position in Sylvamo in the first quarter worth about $251,000. Kapitalo Investimentos Ltda acquired a new position in Sylvamo in the first quarter valued at approximately $263,000. Finally, Highland Capital Management LLC bought a new position in shares of Sylvamo during the first quarter valued at approximately $268,000. Institutional investors own 91.16% of the company’s stock.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $44.83 on Monday. The stock has a market cap of $1.81 billion, a P/E ratio of 8.57, a P/E/G ratio of 2.51 and a beta of 0.97. The firm’s 50-day simple moving average is $44.62 and its 200 day simple moving average is $52.03. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $98.02. 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 released its earnings results on Friday, August 8th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.10). The company had revenue of $794.00 million for the quarter, compared to analyst estimates of $826.60 million. Sylvamo had a net margin of 6.11% and a return on equity of 23.99%. The firm’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 EPS. Equities analysts expect that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is presently 34.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Sylvamo in a research note on Saturday, September 27th. Bank of America lowered their price target on shares of Sylvamo from $67.00 to $64.00 and set an “underperform” rating for the company in a research report on Wednesday, July 9th. Royal Bank Of Canada set a $49.00 price objective on shares of Sylvamo and gave the stock a “sector perform” rating in a report on Monday, August 11th. Finally, Zacks Research raised shares of Sylvamo to a “strong sell” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $71.00.

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.