Fifth Third Bancorp Acquires 18,703 Shares of Sylvamo Corporation $SLVM

Fifth Third Bancorp raised its holdings in Sylvamo Corporation (NYSE:SLVM) by 3,457.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,244 shares of the company’s stock after buying an additional 18,703 shares during the period. Fifth Third Bancorp’s holdings in Sylvamo were worth $813,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royce & Associates LP increased its position in shares of Sylvamo by 8.6% in the fourth quarter. Royce & Associates LP now owns 464,401 shares of the company’s stock valued at $22,361,000 after acquiring an additional 36,685 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Sylvamo by 9.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,135 shares of the company’s stock valued at $31,063,000 after purchasing an additional 56,393 shares during the last quarter. SG Americas Securities LLC grew its stake in Sylvamo by 2,246.7% in the fourth quarter. SG Americas Securities LLC now owns 223,568 shares of the company’s stock valued at $10,765,000 after purchasing an additional 214,041 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Sylvamo by 297.9% in the fourth quarter. Bleakley Financial Group LLC now owns 40,421 shares of the company’s stock valued at $1,946,000 after purchasing an additional 30,263 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Sylvamo by 172.0% during the 4th quarter. UBS Group AG now owns 338,414 shares of the company’s stock worth $16,295,000 after purchasing an additional 214,016 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SLVM shares. Bank of America reissued a “neutral” rating and issued a $45.00 price objective on shares of Sylvamo in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Sylvamo from a “hold” rating to a “sell” rating in a research note on Saturday. Truist Financial decreased their price objective on shares of Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada lowered their price objective on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $47.33.

Insider Buying and Selling

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $41.70, for a total value of $51,291.00. Following the transaction, the director directly owned 14,475 shares of the company’s stock, valued at $603,607.50. This represents a 7.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Sylvamo Stock Down 1.6%

Sylvamo stock opened at $37.65 on Tuesday. The company’s 50-day moving average price is $38.78 and its two-hundred day moving average price is $42.93. The company has a quick ratio of 0.81, a current ratio of 1.45 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.50 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.85 and a beta of 0.87. Sylvamo Corporation has a twelve month low of $35.53 and a twelve month high of $56.80.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $740.85 million. Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. As a group, analysts expect that Sylvamo Corporation will post 2.2 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 7th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $1.80 annualized dividend and a yield of 4.8%. Sylvamo’s payout ratio is 71.15%.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.