Sylvamo Co. (NYSE:SLVM) Shares Purchased by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC raised its stake in Sylvamo Co. (NYSE:SLVM) by 46.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,354 shares of the company’s stock after buying an additional 12,152 shares during the period. Abacus FCF Advisors LLC owned approximately 0.09% of Sylvamo worth $3,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in Sylvamo by 0.9% in the 3rd quarter. State Street Corp now owns 1,407,303 shares of the company’s stock valued at $120,817,000 after purchasing an additional 12,181 shares in the last quarter. American Century Companies Inc. increased its position in shares of Sylvamo by 15.2% in the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock valued at $80,289,000 after buying an additional 134,066 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Sylvamo by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 923,792 shares of the company’s stock worth $73,011,000 after buying an additional 7,795 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Sylvamo by 16.6% in the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company’s stock worth $40,139,000 after buying an additional 72,226 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Sylvamo by 27.5% in the 4th quarter. Invesco Ltd. now owns 375,231 shares of the company’s stock valued at $29,651,000 after acquiring an additional 80,895 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Stock Performance

Shares of NYSE SLVM opened at $58.02 on Tuesday. The company has a 50-day simple moving average of $69.86 and a 200-day simple moving average of $79.44. 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 company has a market cap of $2.35 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. Sylvamo Co. has a 12 month low of $56.01 and a 12 month high of $98.02.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a dividend yield of 3.10%. Sylvamo’s payout ratio is 24.97%.

Insider Buying and Selling

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the sale, the chief executive officer now directly owns 131,894 shares in the company, valued at $8,591,575.16. This trade represents a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. 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.

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.