Legal & General Group Plc Sells 13,258 Shares of Sylvamo Corporation $SLVM

Legal & General Group Plc cut its stake in Sylvamo Corporation (NYSE:SLVM) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,904 shares of the company’s stock after selling 13,258 shares during the quarter. Legal & General Group Plc owned 0.22% of Sylvamo worth $4,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Sylvamo by 222.8% in the fourth quarter. GAMMA Investing LLC now owns 765 shares of the company’s stock worth $37,000 after acquiring an additional 528 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Sylvamo in the fourth quarter worth approximately $38,000. Advisory Services Network LLC bought a new stake in shares of Sylvamo in the third quarter worth approximately $38,000. Farther Finance Advisors LLC increased its holdings in Sylvamo by 162.7% during the fourth quarter. Farther Finance Advisors LLC now owns 838 shares of the company’s stock valued at $40,000 after buying an additional 519 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Sylvamo by 185.5% during the second quarter. EverSource Wealth Advisors LLC now owns 982 shares of the company’s stock valued at $49,000 after buying an additional 638 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SLVM has been the subject of a number of research reports. Weiss Ratings cut shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Royal Bank Of Canada reduced their target price on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Zacks Research raised shares of Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Truist Financial initiated coverage on shares of Sylvamo in a report on Monday, March 30th. They set a “buy” rating and a $54.00 target price for the company. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.00.

Sylvamo Stock Up 0.3%

Shares of SLVM stock opened at $38.77 on Tuesday. Sylvamo Corporation has a 12 month low of $35.53 and a 12 month high of $56.80. The stock has a market cap of $1.54 billion, a P/E ratio of 15.32, a P/E/G ratio of 0.59 and a beta of 0.86. The company has a current ratio of 1.45, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The company has a 50 day simple moving average of $40.82 and a two-hundred day simple moving average of $45.27.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The firm had revenue of $755.00 million during 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 business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, research analysts expect that Sylvamo Corporation will post 2.32 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, July 7th. Sylvamo’s dividend payout ratio is presently 71.15%.

About Sylvamo

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.