Pacer Advisors Inc. Increases Holdings in Sylvamo Co. (NYSE:SLVM)

Pacer Advisors Inc. lifted its holdings in Sylvamo Co. (NYSE:SLVM) by 83,084.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,304,197 shares of the company’s stock after purchasing an additional 2,301,427 shares during the quarter. Pacer Advisors Inc. owned 0.06% of Sylvamo worth $197,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 worth $174,771,000 after purchasing an additional 138,655 shares during the last quarter. Simplicity Wealth LLC raised its stake in shares of Sylvamo by 105.7% in the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock worth $974,000 after purchasing an additional 7,291 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Sylvamo by 33.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,156 shares of the company’s stock worth $2,104,000 after purchasing an additional 8,503 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Sylvamo by 80.4% in the second quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company’s stock worth $1,590,000 after purchasing an additional 10,332 shares during the last quarter. Finally, Summit Global Investments purchased a new position in shares of Sylvamo in the second quarter worth $1,170,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

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

Sylvamo Stock Performance

Shares of SLVM opened at $87.39 on Thursday. The stock has a 50-day moving average of $84.70 and a two-hundred day moving average of $76.06. Sylvamo Co. has a one year low of $44.94 and a one year high of $98.02. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. The stock has a market cap of $3.58 billion, a P/E ratio of 13.59 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $960.47 million. During the same quarter in the previous year, the firm posted $1.70 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts predict that Sylvamo Co. will post 7.07 EPS for the current year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.06%. Sylvamo’s dividend payout ratio (DPR) is presently 27.99%.

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.