SeaCrest Wealth Management LLC Purchases New Position in Sylvamo Co. (NYSE:SLVM)

SeaCrest Wealth Management LLC purchased a new stake in shares of Sylvamo Co. (NYSE:SLVMGet Rating) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 1,500 shares of the company’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in Sylvamo during the first quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sylvamo in the 2nd quarter valued at approximately $31,000. Van ECK Associates Corp bought a new stake in shares of Sylvamo in the 2nd quarter valued at approximately $34,000. Meeder Asset Management Inc. lifted its stake in shares of Sylvamo by 199.5% in the 1st quarter. Meeder Asset Management Inc. now owns 1,258 shares of the company’s stock valued at $42,000 after purchasing an additional 838 shares during the last quarter. Finally, Venture Visionary Partners LLC bought a new stake in shares of Sylvamo in the 2nd quarter valued at approximately $62,000. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SLVM shares. Royal Bank of Canada raised their price objective on Sylvamo from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, November 11th. Bank of America started coverage on Sylvamo in a research note on Thursday, October 13th. They issued a “buy” rating for the company.

Insider Buying and Selling

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

Sylvamo Price Performance

Shares of SLVM stock opened at $50.36 on Monday. Sylvamo Co. has a 52-week low of $26.46 and a 52-week high of $53.00. The company has a debt-to-equity ratio of 4.65, a quick ratio of 1.04 and a current ratio of 1.37. The firm has a market capitalization of $2.22 billion and a P/E ratio of 25.83. The stock has a 50 day moving average price of $42.05 and a 200 day moving average price of $41.29.

Sylvamo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Wednesday, January 4th will be paid a dividend of $0.25 per share. This is a positive change from Sylvamo’s previous quarterly dividend of $0.11. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, January 3rd. Sylvamo’s dividend payout ratio (DPR) is currently 23.08%.

Sylvamo Company 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.

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Institutional Ownership by Quarter for Sylvamo (NYSE:SLVM)

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