Y Intercept Hong Kong Ltd Takes Position in Sylvamo Corporation $SLVM

Y Intercept Hong Kong Ltd bought a new stake in shares of Sylvamo Corporation (NYSE:SLVM) in the second quarter, Holdings Channel reports. The institutional investor bought 148,933 shares of the company’s stock, valued at approximately $7,462,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of Sylvamo by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 185,620 shares of the company’s stock valued at $12,450,000 after acquiring an additional 2,958 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Sylvamo by 248.4% during the 1st quarter. Jane Street Group LLC now owns 174,648 shares of the company’s stock valued at $11,714,000 after acquiring an additional 124,521 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Sylvamo during the 2nd quarter valued at approximately $445,000. Strs Ohio bought a new position in shares of Sylvamo during the 1st quarter valued at approximately $838,000. Finally, Victory Capital Management Inc. boosted its position in shares of Sylvamo by 351.8% during the 1st quarter. Victory Capital Management Inc. now owns 166,844 shares of the company’s stock valued at $11,190,000 after acquiring an additional 129,916 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Stock Up 1.2%

NYSE:SLVM opened at $43.38 on Tuesday. Sylvamo Corporation has a twelve month low of $37.51 and a twelve month high of $98.02. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 8.29 and a beta of 0.97. The stock has a fifty day simple moving average of $43.70 and a 200-day simple moving average of $49.67. The company has a current ratio of 1.54, a quick ratio of 0.91 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 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.10). Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The business had revenue of $794.00 million for the quarter, compared to the consensus estimate of $826.60 million. During the same quarter last year, the business posted $1.98 earnings per share. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. Analysts anticipate that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently announced 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 4.1%. The ex-dividend date was Friday, October 3rd. Sylvamo’s payout ratio is 34.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank Of Canada set a $49.00 price target on Sylvamo and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Bank of America lowered their price target on Sylvamo from $67.00 to $64.00 and set an “underperform” rating for the company in a research report on Wednesday, July 9th. Weiss Ratings restated a “hold (c)” rating on shares of Sylvamo in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Sylvamo to a “strong sell” rating in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $56.50.

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.