Massachusetts Financial Services Co. MA Invests $3.05 Million in Sylvamo Co. (NYSE:SLVM)

Massachusetts Financial Services Co. MA acquired a new position in shares of Sylvamo Co. (NYSE:SLVM) in the 3rd quarter, HoldingsChannel reports. The firm acquired 35,484 shares of the company’s stock, valued at approximately $3,046,000.

Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can increased its holdings in shares of Sylvamo by 2.8% during the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after buying an additional 154 shares in the last quarter. CWM LLC increased its holdings in shares of Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after purchasing an additional 216 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SLVM. Royal Bank of Canada raised their price target on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th. Sidoti began coverage on shares of Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Bank of America raised their price target 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 Price Performance

SLVM opened at $94.45 on Wednesday. The company has a fifty day moving average price of $85.91 and a two-hundred day moving average price of $76.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.72. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The firm has a market capitalization of $3.87 billion, a PE ratio of 14.69 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last released its earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $960.47 million. During the same quarter in the previous year, the business earned $1.70 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that Sylvamo Co. will post 7.07 earnings per share for the current year.

Sylvamo Announces Dividend

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

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.