Texas Permanent School Fund Grows Holdings in Sylvamo Co. (NYSE:SLVM)

Texas Permanent School Fund boosted its holdings in Sylvamo Co. (NYSE:SLVMGet Rating) by 1.8% in the 2nd quarter, Holdings Channel reports. The firm owned 25,456 shares of the company’s stock after purchasing an additional 441 shares during the period. Texas Permanent School Fund’s holdings in Sylvamo were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mutual of America Capital Management LLC raised its position in Sylvamo by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 5,084 shares of the company’s stock valued at $169,000 after purchasing an additional 264 shares during the last quarter. Yousif Capital Management LLC raised its position in Sylvamo by 1.6% in the 1st quarter. Yousif Capital Management LLC now owns 34,066 shares of the company’s stock valued at $1,134,000 after purchasing an additional 533 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Sylvamo in the 1st quarter valued at $25,000. Meeder Asset Management Inc. raised its position in 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, DekaBank Deutsche Girozentrale purchased a new stake in Sylvamo in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Sylvamo Stock Up 1.3 %

Shares of Sylvamo stock opened at $50.36 on Monday. The company has a market cap of $2.22 billion and a P/E ratio of 25.83. The company has a debt-to-equity ratio of 4.65, a quick ratio of 1.04 and a current ratio of 1.37. Sylvamo Co. has a one year low of $26.46 and a one year high of $53.00. The firm has a fifty day moving average of $42.05 and a two-hundred day moving average of $41.29.

Sylvamo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Wednesday, January 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, January 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. This is an increase from Sylvamo’s previous quarterly dividend of $0.11. Sylvamo’s dividend payout ratio is presently 23.08%.

Insider Transactions at Sylvamo

In other news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the company’s 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 legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SLVM. Royal Bank of Canada upped their price target on shares of Sylvamo from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, November 11th. Bank of America began coverage on shares of Sylvamo in a research report on Thursday, October 13th. They set a “buy” rating for the company.

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.

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Institutional Ownership by Quarter for Sylvamo (NYSE:SLVM)

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