Skandinaviska Enskilda Banken AB publ Has $1.87 Million Stake in Sylvamo Co. (NYSE:SLVM)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Sylvamo Co. (NYSE:SLVM) by 60.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,840 shares of the company’s stock after selling 35,867 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.06% of Sylvamo worth $1,873,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in shares of Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $49,000 after purchasing an additional 403 shares during the period. GAMMA Investing LLC increased its stake in shares of Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after purchasing an additional 201 shares during the period. Fifth Third Bancorp increased its stake in shares of Sylvamo by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock worth $58,000 after purchasing an additional 214 shares during the period. LRI Investments LLC increased its stake in shares of Sylvamo by 4,825.0% during the third quarter. LRI Investments LLC now owns 788 shares of the company’s stock worth $66,000 after purchasing an additional 772 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sylvamo during the third quarter worth approximately $82,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Price Performance

Sylvamo stock opened at $65.42 on Monday. The stock’s fifty day moving average price is $74.15 and its two-hundred day moving average price is $80.74. Sylvamo Co. has a one year low of $56.20 and a one year high of $98.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. The firm has a market cap of $2.65 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. As a group, research analysts expect that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.75%. Sylvamo’s payout ratio is 24.97%.

Insider Activity

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction on Monday, March 10th. The stock was sold at an average price of $65.53, for a total value of $1,392,512.50. Following the transaction, the chief executive officer now owns 153,144 shares in the company, valued at approximately $10,035,526.32. This trade represents a 12.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLVM. Royal Bank of Canada lowered their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Bank of America restated an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th.

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.