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

Bleakley Financial Group LLC bought a new stake in Sylvamo Corporation (NYSE:SLVM) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,599 shares of the company’s stock, valued at approximately $581,000.

A number of other large investors also recently bought and sold shares of the stock. Denali Advisors LLC lifted its position in Sylvamo by 102.3% in the second quarter. Denali Advisors LLC now owns 16,226 shares of the company’s stock valued at $813,000 after buying an additional 8,207 shares during the last quarter. LMG Wealth Partners LLC acquired a new position in Sylvamo in the second quarter valued at about $260,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Sylvamo in the second quarter valued at about $1,597,000. New York State Teachers Retirement System lifted its position in Sylvamo by 5.0% in the second quarter. New York State Teachers Retirement System now owns 50,109 shares of the company’s stock valued at $2,510,000 after buying an additional 2,371 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Sylvamo in the second quarter valued at about $445,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

SLVM has been the topic of several research reports. Royal Bank Of Canada set a $49.00 price target on shares of Sylvamo and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Bank of America reduced their price target 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. Zacks Research raised shares of Sylvamo to a “strong sell” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sylvamo in a research report on Friday. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $56.50.

Sylvamo Stock Down 1.5%

Shares of NYSE:SLVM opened at $42.85 on Monday. The firm’s 50 day moving average price is $43.71 and its 200 day moving average price is $49.80. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 8.19 and a beta of 0.97. 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 issued its earnings results on Friday, August 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.10). The firm had revenue of $794.00 million during 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 revenue was down 14.9% compared to the same quarter last year. During the same period last year, the business earned $1.98 EPS. As a group, equities research analysts predict that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

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

About Sylvamo

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.