Voya Investment Management LLC Lowers Stock Holdings in Sylvamo Corporation $SLVM

Voya Investment Management LLC reduced its holdings in Sylvamo Corporation (NYSE:SLVM) by 65.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,102 shares of the company’s stock after selling 18,775 shares during the quarter. Voya Investment Management LLC’s holdings in Sylvamo were worth $447,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Sylvamo by 185.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 982 shares of the company’s stock worth $49,000 after acquiring an additional 638 shares during the period. Blue Trust Inc. boosted its holdings in shares of Sylvamo by 54.0% in the 2nd quarter. Blue Trust Inc. now owns 1,209 shares of the company’s stock valued at $61,000 after purchasing an additional 424 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Sylvamo by 339.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,526 shares of the company’s stock valued at $177,000 after buying an additional 2,724 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Sylvamo by 28.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,567 shares of the company’s stock worth $179,000 after buying an additional 794 shares during the last quarter. Finally, EMC Capital Management purchased a new position in shares of Sylvamo in the 2nd quarter worth $184,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Stock Down 0.6%

NYSE SLVM opened at $47.86 on Friday. The stock has a market cap of $1.89 billion, a PE ratio of 10.95 and a beta of 0.95. Sylvamo Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $82.06. The business has a 50 day moving average price of $46.71 and a two-hundred day moving average price of $46.36. The company has a quick ratio of 0.85, a current ratio of 1.52 and a debt-to-equity ratio of 0.80.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, November 7th. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.13). The firm had revenue of $846.00 million for the quarter, compared to analysts’ expectations of $840.32 million. Sylvamo had a net margin of 5.25% and a return on equity of 19.72%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 EPS. As a group, sell-side analysts predict that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Monday, January 5th will be issued a $0.45 dividend. The ex-dividend date is Monday, January 5th. This represents a $1.80 dividend on an annualized basis and a yield of 3.8%. Sylvamo’s payout ratio is currently 41.19%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Sylvamo in a report on Wednesday, October 8th. Royal Bank Of Canada restated a “sector perform” rating and issued a $53.00 price target on shares of Sylvamo in a report on Thursday, December 18th. Finally, Bank of America raised shares of Sylvamo from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $41.00 to $59.00 in a research report on Monday, November 17th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sylvamo has an average rating of “Hold” and an average price target of $56.00.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.