Mackenzie Financial Corp Makes New Investment in Sylvamo Co. (NYSE:SLVM)

Mackenzie Financial Corp acquired a new stake in shares of Sylvamo Co. (NYSE:SLVM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,456 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors also recently modified their holdings of the company. Royal London Asset Management Ltd. grew its stake in Sylvamo by 60.9% in the third quarter. Royal London Asset Management Ltd. now owns 1,823,426 shares of the company’s stock worth $80,167,000 after purchasing an additional 690,117 shares during the period. William Blair Investment Management LLC boosted its stake in Sylvamo by 15.8% during the third quarter. William Blair Investment Management LLC now owns 1,773,987 shares of the company’s stock worth $77,949,000 after acquiring an additional 241,441 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Sylvamo by 257.6% in the third quarter. Victory Capital Management Inc. now owns 179,218 shares of the company’s stock worth $7,875,000 after purchasing an additional 129,106 shares during the period. American Century Companies Inc. increased its stake in shares of Sylvamo by 34.9% during the third quarter. American Century Companies Inc. now owns 372,185 shares of the company’s stock valued at $16,354,000 after purchasing an additional 96,364 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Sylvamo by 3.1% during the third quarter. Vanguard Group Inc. now owns 2,620,331 shares of the company’s stock valued at $115,137,000 after purchasing an additional 78,279 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective (up previously from $45.00) on shares of Sylvamo in a research note on Monday, February 26th.

Sylvamo Price Performance

SLVM opened at $63.06 on Monday. The company’s 50-day simple moving average is $59.89 and its two-hundred day simple moving average is $51.99. Sylvamo Co. has a 52-week low of $37.59 and a 52-week high of $64.32. The stock has a market capitalization of $2.61 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.34 and a beta of 1.10. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.14 and a current ratio of 1.72.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.34. The company had revenue of $964.00 million for the quarter, compared to the consensus estimate of $903.72 million. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.97 earnings per share. As a group, analysts predict that Sylvamo Co. will post 6.15 EPS for the current year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 8th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, April 5th. Sylvamo’s dividend payout ratio (DPR) is presently 20.27%.

Insider Buying and Selling at Sylvamo

In other Sylvamo news, SVP Peggy Maes sold 1,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $63.20, for a total transaction of $94,800.00. Following the completion of the sale, the senior vice president now directly owns 11,249 shares in the company, valued at approximately $710,936.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jeanmichel Ribieras sold 12,225 shares of Sylvamo stock in a transaction on Monday, March 18th. The stock was sold at an average price of $57.20, for a total transaction of $699,270.00. Following the transaction, the chief executive officer now directly owns 132,276 shares in the company, valued at $7,566,187.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peggy Maes sold 1,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $63.20, for a total value of $94,800.00. Following the completion of the sale, the senior vice president now owns 11,249 shares of the company’s stock, valued at approximately $710,936.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,951 shares of company stock valued at $1,618,664. 0.75% of the stock is owned by company 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.