Pacer Advisors Inc. Lowers Position in Sylvamo Co. (NYSE:SLVM)

Pacer Advisors Inc. cut its position in shares of Sylvamo Co. (NYSE:SLVM) by 22.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,797,772 shares of the company’s stock after selling 506,425 shares during the quarter. Pacer Advisors Inc.’s holdings in Sylvamo were worth $142,060,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new position in shares of Sylvamo in the second quarter valued at $226,000. AE Wealth Management LLC purchased a new position in Sylvamo in the second quarter valued at about $212,000. Sei Investments Co. grew its stake in Sylvamo by 44.9% during the 2nd quarter. Sei Investments Co. now owns 45,550 shares of the company’s stock valued at $3,125,000 after purchasing an additional 14,107 shares in the last quarter. ProShare Advisors LLC increased its holdings in Sylvamo by 52.5% during the 2nd quarter. ProShare Advisors LLC now owns 10,996 shares of the company’s stock worth $754,000 after purchasing an additional 3,785 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of 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 purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Sylvamo Price Performance

Shares of SLVM opened at $81.22 on Monday. 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 firm has a market cap of $3.33 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.30 and a beta of 1.13. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The stock has a 50 day moving average of $84.07 and a 200-day moving average of $81.00.

Sylvamo (NYSE:SLVM) last released 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 analyst estimates of $960.47 million. During the same quarter in the previous year, the firm earned $1.70 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts forecast that Sylvamo Co. will post 7.15 EPS for the current year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Monday, January 6th were paid a $0.45 dividend. The ex-dividend date was Monday, January 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.22%. Sylvamo’s payout ratio is currently 27.99%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SLVM shares. Bank of America reissued an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th. Sidoti assumed coverage on shares of Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company.

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.