Martingale Asset Management L P Acquires 16,450 Shares of Sylvamo Co. (NYSE:SLVM)

Martingale Asset Management L P increased its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 47.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 51,137 shares of the company’s stock after purchasing an additional 16,450 shares during the period. Martingale Asset Management L P owned 0.12% of Sylvamo worth $4,390,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLVM. Independence Bank of Kentucky grew its holdings in Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after purchasing an additional 404 shares during the period. CWM LLC boosted its holdings in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after acquiring an additional 157 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after acquiring an additional 239 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after acquiring an additional 171 shares during the period. Institutional investors own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SLVM shares. Bank of America boosted their price objective on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada boosted their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Finally, Sidoti started coverage on Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company.

Sylvamo Stock Up 1.1 %

NYSE SLVM opened at $92.29 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The company has a 50 day moving average of $86.44 and a 200-day moving average of $77.25. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 14.35 and a beta of 1.08.

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

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were given 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 1.95%. Sylvamo’s dividend payout ratio is currently 27.99%.

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.