Harvest Fund Management Co. Ltd Buys Shares of 4,377 Sylvamo Co. (NYSE:SLVM)

Harvest Fund Management Co. Ltd purchased a new position in shares of Sylvamo Co. (NYSE:SLVM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,377 shares of the company’s stock, valued at approximately $376,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Sylvamo by 5.2% in 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. Pacer Advisors Inc. boosted its holdings in Sylvamo by 83,084.0% in the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock valued at $197,815,000 after purchasing an additional 2,301,427 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sylvamo by 5.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after buying an additional 62,157 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sylvamo in the 2nd quarter valued at approximately $62,101,000. Finally, American Century Companies Inc. boosted its stake in shares of Sylvamo by 53.2% in the second quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after buying an additional 230,291 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Trading Down 0.9 %

Shares of SLVM stock opened at $94.45 on Wednesday. The stock has a market cap of $3.87 billion, a P/E ratio of 14.69 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. Sylvamo Co. has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. The business has a fifty day simple moving average of $85.91 and a 200-day simple moving average of $76.88.

Sylvamo (NYSE:SLVM) last posted its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm had revenue of $965.00 million during the quarter, compared to the consensus estimate of $960.47 million. During the same period last year, the firm posted $1.70 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts forecast that Sylvamo Co. will post 7.07 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s payout ratio is currently 27.99%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLVM. Bank of America increased their price objective on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Sidoti started coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th.

About Sylvamo

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.