Sylvamo Co. (NYSE:SLVM) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky cut its stake in Sylvamo Co. (NYSE:SLVM) by 26.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 404 shares of the company’s stock after selling 149 shares during the quarter. Independence Bank of Kentucky’s holdings in Sylvamo were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of SLVM. Bank of Montreal Can increased its position in Sylvamo by 2.8% in the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock valued at $389,000 after acquiring an additional 154 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Sylvamo by 188.0% in the second quarter. Squarepoint Ops LLC now owns 20,094 shares of the company’s stock valued at $1,378,000 after purchasing an additional 13,117 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Sylvamo by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,688 shares of the company’s stock worth $1,351,000 after purchasing an additional 336 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Sylvamo during the second quarter worth $340,000. Finally, Creative Planning grew its position in Sylvamo by 21.1% in the 2nd quarter. Creative Planning now owns 7,728 shares of the company’s stock valued at $530,000 after buying an additional 1,344 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Down 1.4 %

SLVM stock opened at $80.05 on Monday. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.28 billion, a P/E ratio of 12.45, a P/E/G ratio of 2.28 and a beta of 1.13. The company’s 50-day moving average price is $83.29 and its 200 day moving average price is $81.31.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 EPS. On average, research analysts expect that Sylvamo Co. will post 7.15 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Monday, January 6th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.25%. Sylvamo’s dividend payout ratio is presently 27.99%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SLVM shares. Bank of America restated an “underperform” rating and issued a $96.00 target price on shares of Sylvamo in a research note on Wednesday, December 11th. Sidoti initiated coverage on Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock.

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.