Royal London Asset Management Ltd. Has $141.42 Million Stake in Sylvamo Co. (NYSE:SLVM)

Royal London Asset Management Ltd. lessened its holdings in Sylvamo Co. (NYSE:SLVM) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,647,287 shares of the company’s stock after selling 36,352 shares during the period. Royal London Asset Management Ltd. owned approximately 4.02% of Sylvamo worth $141,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after purchasing an additional 404 shares during the last quarter. Fifth Third Bancorp lifted its stake in Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after purchasing an additional 303 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after purchasing an additional 239 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analyst Upgrades and Downgrades

SLVM has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Sidoti assumed coverage on shares of Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Bank of America boosted their target price on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd.

Sylvamo Trading Down 2.5 %

Shares of SLVM stock opened at $89.58 on Thursday. The company’s fifty day simple moving average is $86.89 and its two-hundred day simple moving average is $77.75. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. Sylvamo Co. has a 1 year low of $44.94 and a 1 year high of $98.02. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 13.93 and a beta of 1.08.

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 the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 earnings per share. As a group, analysts anticipate that Sylvamo Co. will post 7.07 earnings per share for the current year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. Sylvamo’s payout ratio is currently 27.99%.

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.