Renaissance Technologies LLC Has $1.11 Million Holdings in Sylvamo Corporation $SLVM

Renaissance Technologies LLC lowered its position in Sylvamo Corporation (NYSE:SLVM) by 58.7% in the first quarter, HoldingsChannel.com reports. The fund owned 26,300 shares of the company’s stock after selling 37,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Sylvamo were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in Sylvamo by 49.4% in the 1st quarter. Royal Bank of Canada now owns 22,853 shares of the company’s stock valued at $1,532,000 after purchasing an additional 7,556 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Sylvamo by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,690 shares of the company’s stock worth $1,388,000 after buying an additional 893 shares during the last quarter. Empowered Funds LLC raised its stake in Sylvamo by 16.9% in the first quarter. Empowered Funds LLC now owns 17,730 shares of the company’s stock valued at $1,189,000 after buying an additional 2,557 shares during the period. Intech Investment Management LLC raised its stake in Sylvamo by 25.9% in the first quarter. Intech Investment Management LLC now owns 18,140 shares of the company’s stock valued at $1,217,000 after buying an additional 3,727 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Sylvamo by 23.1% in the second quarter. Russell Investments Group Ltd. now owns 24,621 shares of the company’s stock valued at $1,234,000 after buying an additional 4,613 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

Sylvamo Stock Down 1.5%

Shares of SLVM opened at $38.34 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88. Sylvamo Corporation has a 12 month low of $35.53 and a 12 month high of $56.80. The firm’s 50 day moving average is $38.89 and its 200-day moving average is $41.81. The stock has a market capitalization of $1.52 billion, a PE ratio of 20.39, a P/E/G ratio of 1.40 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $806.00 million for the quarter, compared to the consensus estimate of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%.The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. Equities research analysts forecast that Sylvamo Corporation will post 1.53 EPS for the current year.

Insider Buying and Selling

In related news, Director Lizanne M. Bruce sold 1,230 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $41.70, for a total value of $51,291.00. Following the completion of the transaction, the director owned 14,475 shares of the company’s stock, valued at $603,607.50. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SLVM. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a report on Friday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $49.00 price objective (down from $51.00) on shares of Sylvamo in a research report on Monday. Bank of America reiterated a “neutral” rating and issued a $45.00 price objective on shares of Sylvamo in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada dropped their price objective on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating on the stock in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $46.67.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.