Amalgamated Bank Trims Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Amalgamated Bank cut its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,153 shares of the company’s stock after selling 559 shares during the period. Amalgamated Bank’s holdings in Sylvamo were worth $872,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLVM. Janney Montgomery Scott LLC lifted its holdings in shares of Sylvamo by 724.1% during the third quarter. Janney Montgomery Scott LLC now owns 37,505 shares of the company’s stock worth $3,220,000 after purchasing an additional 32,954 shares during the period. Capital Advisors Inc. OK purchased a new position in Sylvamo in the 3rd quarter valued at approximately $201,000. Fortitude Family Office LLC raised its stake in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after buying an additional 239 shares during the last quarter. Highland Capital Management LLC lifted its holdings in shares of Sylvamo by 9.6% in the third quarter. Highland Capital Management LLC now owns 3,950 shares of the company’s stock valued at $339,000 after purchasing an additional 347 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Sylvamo by 6,693.0% in the 3rd quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock valued at $5,931,000 after buying an additional 68,068 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SLVM shares. Royal Bank of Canada raised their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Sidoti began coverage on Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Bank of America lifted their target price on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd.

Sylvamo Stock Up 3.6 %

Shares of Sylvamo stock opened at $84.32 on Friday. Sylvamo Co. has a 1-year low of $44.94 and a 1-year high of $98.02. The business has a 50-day moving average of $83.59 and a 200-day moving average of $75.29. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.05. The company has a market capitalization of $3.46 billion, a PE ratio of 13.11, a P/E/G ratio of 4.74 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. The company had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.70 EPS. As a group, equities analysts forecast that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.13%. Sylvamo’s payout ratio is 27.99%.

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.