Jupiter Asset Management Ltd. Raises Stake in Sylvamo Co. (NYSE:SLVM)

Jupiter Asset Management Ltd. raised its stake in shares of Sylvamo Co. (NYSE:SLVM) by 47.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 182,990 shares of the company’s stock after buying an additional 58,997 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Sylvamo were worth $12,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after acquiring an additional 138,655 shares in the last quarter. Simplicity Wealth LLC boosted its holdings in Sylvamo by 105.7% in the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after purchasing an additional 7,291 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Sylvamo during the 1st quarter valued at $586,000. Allianz Asset Management GmbH increased its holdings in shares of Sylvamo by 15.2% in the fourth quarter. Allianz Asset Management GmbH now owns 159,189 shares of the company’s stock worth $7,818,000 after purchasing an additional 21,026 shares during the period. Finally, Cibc World Markets Corp bought a new position in shares of Sylvamo in the fourth quarter worth $2,456,000. 91.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLVM. Bank of America restated a “neutral” rating and set a $82.00 target price (up from $71.00) on shares of Sylvamo in a research report on Monday, August 12th. Royal Bank of Canada boosted their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th.

Sylvamo Stock Performance

NYSE SLVM opened at $74.78 on Friday. The company has a market capitalization of $3.07 billion, a P/E ratio of 15.94, a P/E/G ratio of 4.35 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. Sylvamo Co. has a 52-week low of $40.15 and a 52-week high of $81.06. The company has a fifty day moving average of $73.27 and a 200-day moving average of $67.72.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. The firm had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. As a group, equities research analysts predict that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

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.