New York State Common Retirement Fund Grows Stake in Sylvamo Co. (NYSE:SLVM)

New York State Common Retirement Fund increased its stake in Sylvamo Co. (NYSE:SLVM) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,794 shares of the company’s stock after acquiring an additional 2,489 shares during the period. New York State Common Retirement Fund owned about 0.12% of Sylvamo worth $2,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund grew its position in Sylvamo by 10.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 20,753 shares of the company’s stock worth $1,019,000 after acquiring an additional 1,985 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sylvamo by 12.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,775 shares of the company’s stock worth $382,000 after buying an additional 832 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Sylvamo in the 4th quarter valued at about $219,000. Louisiana State Employees Retirement System purchased a new stake in Sylvamo during the 4th quarter valued at about $869,000. Finally, Perigon Wealth Management LLC grew its position in Sylvamo by 11.2% during the 4th quarter. Perigon Wealth Management LLC now owns 11,288 shares of the company’s stock worth $554,000 after acquiring an additional 1,137 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Stock Performance

Sylvamo stock opened at $66.12 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03. The firm has a market cap of $2.74 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.35 and a beta of 1.08. Sylvamo Co. has a 1-year low of $37.59 and a 1-year high of $66.67. The firm has a 50-day moving average of $61.01 and a 200-day moving average of $53.01.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.34. Sylvamo had a return on equity of 32.81% and a net margin of 6.77%. The firm had revenue of $964.00 million for the quarter, compared to analyst estimates of $903.72 million. During the same period last year, the company earned $1.97 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Sylvamo Co. will post 6.15 EPS for the current year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Monday, April 8th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, April 5th. Sylvamo’s payout ratio is 20.27%.

Insider Activity at Sylvamo

In other Sylvamo news, SVP Peggy Maes sold 1,000 shares of Sylvamo stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $55.09, for a total transaction of $55,090.00. Following the sale, the senior vice president now directly owns 10,535 shares of the company’s stock, valued at approximately $580,373.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Peggy Maes sold 1,000 shares of Sylvamo stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $55.09, for a total transaction of $55,090.00. Following the sale, the senior vice president now directly owns 10,535 shares in the company, valued at $580,373.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeanmichel Ribieras sold 12,225 shares of Sylvamo stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $57.20, for a total value of $699,270.00. Following the sale, the chief executive officer now owns 132,276 shares in the company, valued at $7,566,187.20. The disclosure for this sale can be found here. Insiders have sold 26,951 shares of company stock worth $1,618,664 over the last 90 days. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective (up previously from $45.00) on shares of Sylvamo in a research note on Monday, February 26th.

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.