VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 31,875 Sylvamo Corporation $SLVM

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Sylvamo Corporation (NYSE:SLVM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 31,875 shares of the company’s stock, valued at approximately $1,597,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLVM. Vanguard Group Inc. raised its position in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company’s stock valued at $200,843,000 after buying an additional 149,326 shares in the last quarter. Victory Capital Management Inc. increased its position in Sylvamo by 351.8% in 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 period. Jane Street Group LLC boosted its stake in shares of Sylvamo by 248.4% in the 1st quarter. Jane Street Group LLC now owns 174,648 shares of the company’s stock valued at $11,714,000 after purchasing an additional 124,521 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Sylvamo by 10.6% in the 1st quarter. American Century Companies Inc. now owns 1,123,686 shares of the company’s stock valued at $75,366,000 after purchasing an additional 107,622 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Sylvamo in the 1st quarter valued at $6,371,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sylvamo Trading Down 0.1%

SLVM stock opened at $42.53 on Thursday. The company has a market capitalization of $1.72 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 2.70 and a beta of 0.97. Sylvamo Corporation has a one year low of $37.51 and a one year high of $98.02. The company’s 50 day moving average price is $43.74 and its two-hundred day moving average price is $50.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.91 and a current ratio of 1.54.

Sylvamo (NYSE:SLVM) last issued 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). Sylvamo had a return on equity of 23.99% and a net margin of 6.11%.The firm had revenue of $794.00 million during the quarter, compared to analysts’ expectations of $826.60 million. During the same period in the previous year, the firm earned $1.98 earnings per share. The firm’s quarterly revenue was down 14.9% compared to the same quarter last year. As a group, analysts predict that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, October 3rd. Sylvamo’s payout ratio is 34.42%.

Sylvamo Company 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.