JPMorgan Chase & Co. Sells 12,413 Shares of Sylvamo Corporation $SLVM

JPMorgan Chase & Co. decreased its stake in shares of Sylvamo Corporation (NYSE:SLVM) by 10.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 101,091 shares of the company’s stock after selling 12,413 shares during the period. JPMorgan Chase & Co. owned 0.26% of Sylvamo worth $4,470,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLVM. American Century Companies Inc. raised its position in shares of Sylvamo by 7.2% in the third quarter. American Century Companies Inc. now owns 1,290,957 shares of the company’s stock valued at $57,086,000 after purchasing an additional 87,095 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of Sylvamo by 802.6% during the 3rd quarter. WINTON GROUP Ltd now owns 65,521 shares of the company’s stock worth $2,897,000 after buying an additional 58,262 shares during the period. Denali Advisors LLC grew its stake in Sylvamo by 309.2% in the 3rd quarter. Denali Advisors LLC now owns 66,400 shares of the company’s stock valued at $2,936,000 after buying an additional 50,174 shares during the last quarter. Rock Point Advisors LLC grew its stake in Sylvamo by 81.6% in the 3rd quarter. Rock Point Advisors LLC now owns 82,049 shares of the company’s stock valued at $3,628,000 after buying an additional 36,862 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Sylvamo by 5.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 557,398 shares of the company’s stock worth $24,648,000 after acquiring an additional 27,593 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Rodrigo Davoli sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.46, for a total transaction of $150,995.00. Following the transaction, the senior vice president directly owned 46,484 shares in the company, valued at $2,159,646.64. The trade was a 6.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.74% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SLVM has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $53.00 price target on shares of Sylvamo in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sylvamo in a research note on Wednesday, January 21st. Finally, Truist Financial assumed coverage on Sylvamo in a research note on Monday. They set a “buy” rating and a $54.00 target price for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sylvamo currently has an average rating of “Hold” and an average target price of $55.33.

Sylvamo Trading Down 0.2%

Shares of SLVM stock opened at $42.64 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.49 and a beta of 0.99. Sylvamo Corporation has a 1 year low of $37.09 and a 1 year high of $66.13. The firm’s fifty day simple moving average is $45.85 and its 200 day simple moving average is $46.04. The company has a current ratio of 1.50, a quick ratio of 0.92 and a debt-to-equity ratio of 0.79.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Thursday, February 12th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. Sylvamo had a net margin of 3.94% and a return on equity of 15.12%. The firm had revenue of $890.00 million during the quarter, compared to the consensus estimate of $858.76 million. During the same period in the prior year, the firm earned $1.96 EPS. The business’s revenue was down 8.2% on a year-over-year basis. As a group, sell-side analysts predict that Sylvamo Corporation will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Tuesday, April 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. Sylvamo’s dividend payout ratio (DPR) is 55.21%.

Sylvamo 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.