Comerica Bank Sells 360 Shares of Sylvamo Co. (NYSE:SLVM)

Comerica Bank decreased its position in Sylvamo Co. (NYSE:SLVM) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,718 shares of the company’s stock after selling 360 shares during the quarter. Comerica Bank’s holdings in Sylvamo were worth $1,400,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after acquiring an additional 201 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Sylvamo by 224.6% during the fourth quarter. Blue Trust Inc. now owns 11,284 shares of the company’s stock valued at $969,000 after acquiring an additional 7,808 shares in the last quarter. Barclays PLC increased its holdings in shares of Sylvamo by 324.6% during the third quarter. Barclays PLC now owns 62,435 shares of the company’s stock valued at $5,360,000 after acquiring an additional 47,730 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Sylvamo by 10.3% during the fourth quarter. Bank of Montreal Can now owns 6,304 shares of the company’s stock valued at $498,000 after acquiring an additional 587 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Sylvamo by 7.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company’s stock valued at $363,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Insiders Place Their Bets

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the transaction, the chief executive officer now directly owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. This trade represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.74% of the company’s stock.

Sylvamo Price Performance

NYSE SLVM opened at $52.72 on Monday. Sylvamo Co. has a one year low of $51.60 and a one year high of $98.02. The stock has a 50-day moving average of $62.41 and a 200 day moving average of $74.98. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 2.23 and a beta of 1.18. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The business had revenue of $821.00 million during the quarter, compared to the consensus estimate of $819.61 million. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Sylvamo’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 earnings per share. On average, sell-side analysts forecast that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 3.41%. Sylvamo’s payout ratio is 26.32%.

Analysts Set New Price Targets

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

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.