Vestcor Inc Buys Shares of 3,112 Sylvamo Co. (NYSE:SLVM)

Vestcor Inc acquired a new position in shares of Sylvamo Co. (NYSE:SLVM) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,112 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in Sylvamo by 182.4% in 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after acquiring an additional 201 shares in the last quarter. Fifth Third Bancorp lifted its position in Sylvamo by 40.9% during the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after acquiring an additional 214 shares during the last quarter. LRI Investments LLC grew its holdings in Sylvamo by 4,825.0% in 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 last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Sylvamo in the third quarter worth $82,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Price Performance

NYSE SLVM opened at $65.60 on Tuesday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 2.23 and a beta of 1.15. 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 stock’s fifty day moving average price is $73.88 and its 200 day moving average price is $80.65. Sylvamo Co. has a 1 year low of $56.20 and a 1 year high of $98.02.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating 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, equities research analysts forecast that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.74%. Sylvamo’s payout ratio is currently 24.97%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $65.53, for a total transaction of $1,392,512.50. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.75% of the stock is currently owned by corporate insiders.

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.