Sylvamo Co. (NYSE:SLVM) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Sylvamo Co. (NYSE:SLVM) by 6.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,045 shares of the company’s stock after selling 1,976 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Sylvamo were worth $2,322,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position 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 acquiring an additional 138,655 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sylvamo by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after buying an additional 62,157 shares in the last quarter. SG Americas Securities LLC acquired a new position in Sylvamo in the second quarter worth $62,101,000. American Century Companies Inc. boosted its holdings in Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock worth $45,479,000 after purchasing an additional 230,291 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Sylvamo by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 483,621 shares of the company’s stock worth $33,176,000 after purchasing an additional 1,779 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Sylvamo from $82.00 to $88.00 and gave the company 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 initiated coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company.

Sylvamo Trading Down 3.4 %

NYSE:SLVM opened at $91.26 on Thursday. The stock’s 50 day moving average price is $86.14 and its 200 day moving average price is $76.98. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The company has a market capitalization of $3.74 billion, a P/E ratio of 14.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 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 company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. During the same quarter last year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Sylvamo Co. will post 7.07 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were paid a $0.45 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 1.97%. Sylvamo’s payout ratio is 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.