First Trust Advisors LP Buys 334,792 Shares of Sylvamo Co. (NYSE:SLVM)

First Trust Advisors LP boosted its stake in shares of Sylvamo Co. (NYSE:SLVM) by 39.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,177,493 shares of the company’s stock after acquiring an additional 334,792 shares during the period. First Trust Advisors LP’s holdings in Sylvamo were worth $93,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. grew its position in shares of Sylvamo by 15.2% during the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock valued at $80,289,000 after purchasing an additional 134,066 shares in the last quarter. Norges Bank purchased a new position in Sylvamo during the 4th quarter valued at approximately $6,505,000. Invesco Ltd. increased its stake in Sylvamo by 27.5% in the 4th quarter. Invesco Ltd. now owns 375,231 shares of the company’s stock worth $29,651,000 after acquiring an additional 80,895 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Sylvamo by 16.6% during the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company’s stock worth $40,139,000 after acquiring an additional 72,226 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Sylvamo by 3.8% during the 4th quarter. LSV Asset Management now owns 1,791,684 shares of the company’s stock valued at $141,579,000 after acquiring an additional 66,180 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Trading Up 2.0 %

Shares of NYSE SLVM opened at $60.67 on Monday. 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. The business’s 50 day moving average is $65.74 and its two-hundred day moving average is $77.61. The stock has a market capitalization of $2.47 billion, a P/E ratio of 8.41, a PEG ratio of 2.23 and a beta of 1.17.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. As a group, research analysts expect that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the transaction, the chief executive officer now directly owns 131,894 shares in the company, valued at $8,591,575.16. The trade was a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by company insiders.

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.