Exchange Traded Concepts LLC Purchases Shares of 14,754 Sylvamo Corporation (NYSE:SLVM)

Exchange Traded Concepts LLC purchased a new stake in Sylvamo Corporation (NYSE:SLVM) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 14,754 shares of the company’s stock, valued at approximately $990,000.

A number of other institutional investors have also recently made changes to their positions in the stock. LSV Asset Management grew its position in shares of Sylvamo by 3.8% in the 4th quarter. LSV Asset Management now owns 1,791,684 shares of the company’s stock valued at $141,579,000 after buying an additional 66,180 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Sylvamo by 39.7% during the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company’s stock valued at $93,045,000 after purchasing an additional 334,792 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Sylvamo by 15.2% during the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock valued at $80,289,000 after purchasing an additional 134,066 shares in the last quarter. Geode Capital Management LLC boosted its position 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 valued at $73,011,000 after purchasing an additional 7,795 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Sylvamo by 16.6% during the 4th quarter. Allianz Asset Management GmbH now owns 507,965 shares of the company’s stock valued at $40,139,000 after purchasing an additional 72,226 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

Sylvamo Stock Down 0.9%

Shares of Sylvamo stock opened at $50.14 on Friday. Sylvamo Corporation has a one year low of $50.01 and a one year high of $98.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.64 and a quick ratio of 1.04. The stock’s 50-day moving average is $56.20 and its 200 day moving average is $68.16. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 1.97 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last announced its earnings results on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). Sylvamo had a net margin of 7.71% and a return on equity of 32.60%. The business had revenue of $821.00 million for the quarter, compared to the consensus estimate of $819.61 million. During the same quarter in the previous year, the company earned $1.07 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts anticipate that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors of record on Tuesday, July 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Tuesday, July 8th. Sylvamo’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada cut their target price on Sylvamo from $70.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Monday, May 12th.

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.