Sylvamo Co. (NYSE:SLVM) Shares Bought by Invesco Ltd.

Invesco Ltd. grew its position in Sylvamo Co. (NYSE:SLVM) by 27.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 375,231 shares of the company’s stock after acquiring an additional 80,895 shares during the period. Invesco Ltd. owned about 0.91% of Sylvamo worth $29,651,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SLVM. Bank of Montreal Can raised its position in Sylvamo by 10.3% during the fourth quarter. Bank of Montreal Can now owns 6,304 shares of the company’s stock worth $498,000 after acquiring an additional 587 shares during the period. Federated Hermes Inc. boosted its holdings in Sylvamo by 1.9% in the 4th quarter. Federated Hermes Inc. now owns 51,264 shares of the company’s stock worth $4,051,000 after buying an additional 956 shares during the last quarter. Wells Fargo & Company MN increased its stake in Sylvamo by 15.2% during the 4th quarter. Wells Fargo & Company MN now owns 33,278 shares of the company’s stock worth $2,630,000 after buying an additional 4,394 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in Sylvamo during the 4th quarter worth approximately $1,891,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Sylvamo by 13.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 40,352 shares of the company’s stock valued at $3,189,000 after acquiring an additional 4,868 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada dropped their price target on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th.

Sylvamo Trading Up 2.0 %

SLVM opened at $60.67 on Friday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The company’s 50 day simple moving average is $66.05 and its two-hundred day simple moving average is $77.82. Sylvamo Co. has a 1-year low of $54.94 and a 1-year high of $98.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Analysts expect that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo’s dividend payout ratio is currently 24.97%.

Insider Buying and Selling

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the sale, the chief executive officer now owns 131,894 shares of the company’s stock, valued at $8,591,575.16. This represents a 13.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by company insiders.

Sylvamo Company 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.