State of Alaska Department of Revenue Makes New $2.63 Million Investment in Sylvamo Co. (NYSE:SLVM)

State of Alaska Department of Revenue acquired a new stake in shares of Sylvamo Co. (NYSE:SLVMGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 80,496 shares of the company’s stock, valued at approximately $2,630,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC bought a new stake in shares of Sylvamo during the fourth quarter valued at approximately $814,000. Meeder Asset Management Inc. raised its position in shares of Sylvamo by 199.5% during the first quarter. Meeder Asset Management Inc. now owns 1,258 shares of the company’s stock valued at $42,000 after buying an additional 838 shares during the last quarter. Commerce Bank bought a new stake in shares of Sylvamo during the fourth quarter valued at approximately $297,000. CSS LLC IL bought a new stake in shares of Sylvamo during the fourth quarter valued at approximately $266,000. Finally, Total Clarity Wealth Management Inc. raised its position in shares of Sylvamo by 136.9% during the first quarter. Total Clarity Wealth Management Inc. now owns 6,403 shares of the company’s stock valued at $213,000 after buying an additional 3,700 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Sylvamo Trading Down 0.9 %

SLVM stock opened at $35.99 on Friday. The firm has a fifty day moving average price of $39.83 and a 200 day moving average price of $39.49. Sylvamo Co. has a fifty-two week low of $23.10 and a fifty-two week high of $53.00. The company has a debt-to-equity ratio of 5.12, a quick ratio of 1.18 and a current ratio of 1.52. The firm has a market cap of $1.59 billion and a PE ratio of 13.04.

Sylvamo (NYSE:SLVMGet Rating) last posted its earnings results on Thursday, August 11th. The company reported $2.02 earnings per share for the quarter. Sylvamo had a net margin of 3.21% and a return on equity of 136.59%. The firm had revenue of $912.00 million during the quarter.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, September 30th. Sylvamo’s payout ratio is 16.30%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada lifted their price objective on shares of Sylvamo from $45.00 to $55.00 in a research report on Friday, August 12th.

Insiders Place Their Bets

In other Sylvamo news, major shareholder Paper Co /New/ International sold 4,614,358 shares of Sylvamo stock in a transaction on Monday, September 12th. The shares were sold at an average price of $36.25, for a total transaction of $167,270,477.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

Sylvamo Profile

(Get Rating)

Sylvamo Corporation produces and supplies printing paper in Latin America, Europe, and North America. The company offers uncoated freesheet for paper products, such as cutsize and offset paper; and markets pulp, aseptic, and liquid packaging board, as well as coated unbleached kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft; and bleached chemi-thermomechanical pulp.

See Also

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Institutional Ownership by Quarter for Sylvamo (NYSE:SLVM)

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