Squarepoint Ops LLC Has $7.94 Million Stake in Sylvamo Corporation $SLVM

Squarepoint Ops LLC increased its stake in shares of Sylvamo Corporation (NYSE:SLVM) by 74.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,497 shares of the company’s stock after buying an additional 67,616 shares during the quarter. Squarepoint Ops LLC owned about 0.39% of Sylvamo worth $7,941,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SLVM. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Sylvamo during the 1st quarter valued at $61,000. EverSource Wealth Advisors LLC raised its stake in Sylvamo by 185.5% in the second quarter. EverSource Wealth Advisors LLC now owns 982 shares of the company’s stock valued at $49,000 after purchasing an additional 638 shares in the last quarter. Blue Trust Inc. lifted its position in Sylvamo by 54.0% during the second quarter. Blue Trust Inc. now owns 1,209 shares of the company’s stock worth $61,000 after purchasing an additional 424 shares during the period. Tower Research Capital LLC TRC grew its stake in Sylvamo by 339.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,526 shares of the company’s stock worth $177,000 after buying an additional 2,724 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Sylvamo by 28.6% during the second quarter. BNP Paribas Financial Markets now owns 3,567 shares of the company’s stock worth $179,000 after buying an additional 794 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Sylvamo from an “underperform” rating to a “buy” rating and boosted their target price for the company from $41.00 to $59.00 in a research report on Monday, November 17th. Royal Bank Of Canada boosted their price objective on shares of Sylvamo from $47.00 to $49.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Sylvamo in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sylvamo has an average rating of “Hold” and an average target price of $54.00.

Sylvamo Trading Up 0.5%

SLVM opened at $50.09 on Friday. The company has a market cap of $1.98 billion, a P/E ratio of 11.46 and a beta of 0.95. The company has a current ratio of 1.52, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $44.66 and its 200-day moving average is $46.71. Sylvamo Corporation has a 1-year low of $37.51 and a 1-year high of $88.86.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, November 7th. The company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.13). Sylvamo had a net margin of 5.25% and a return on equity of 19.72%. The company had revenue of $846.00 million during the quarter, compared to the consensus estimate of $840.32 million. During the same period in the previous year, the company earned $2.44 EPS. Sylvamo’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities research analysts predict that Sylvamo Corporation will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, October 3rd. Sylvamo’s dividend payout ratio is presently 41.19%.

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.