Catalina Capital Group LLC Purchases New Holdings in Sylvamo Co. (NYSE:SLVM)

Catalina Capital Group LLC acquired a new position in Sylvamo Co. (NYSE:SLVM) in the third quarter, Holdings Channel reports. The firm acquired 2,861 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after purchasing an additional 138,655 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sylvamo by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after acquiring an additional 62,157 shares during the period. SG Americas Securities LLC acquired a new stake in Sylvamo during the 2nd quarter worth about $62,101,000. American Century Companies Inc. increased its holdings in shares of Sylvamo by 53.2% in the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after purchasing an additional 230,291 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Sylvamo by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock worth $33,176,000 after purchasing an additional 1,779 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Stock Up 7.3 %

Sylvamo stock opened at $94.30 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $3.87 billion, a P/E ratio of 17.05, a P/E/G ratio of 4.56 and a beta of 1.08. Sylvamo Co. has a 1-year low of $43.94 and a 1-year high of $95.11. The firm’s fifty day simple moving average is $82.25 and its 200-day simple moving average is $74.28.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. The company had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Sell-side analysts forecast that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.91%. Sylvamo’s dividend payout ratio (DPR) is presently 32.55%.

Analyst Ratings Changes

SLVM has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. Bank of America lifted their price objective on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Sidoti initiated coverage on Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target for the company.

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.