Panagora Asset Management Inc. Raises Holdings in Sylvamo Co. (NYSE:SLVM)

Panagora Asset Management Inc. increased its holdings in Sylvamo Co. (NYSE:SLVM) by 80.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 131,529 shares of the company’s stock after acquiring an additional 58,702 shares during the period. Panagora Asset Management Inc. owned approximately 0.31% of Sylvamo worth $6,085,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP purchased a new position in shares of Sylvamo during the first quarter worth $69,597,000. Charles Schwab Investment Management Inc. boosted its position in shares of Sylvamo by 111.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 751,717 shares of the company’s stock worth $34,774,000 after buying an additional 396,375 shares during the period. Norges Bank purchased a new position in shares of Sylvamo during the fourth quarter worth $18,292,000. Royal London Asset Management Ltd. boosted its position in shares of Sylvamo by 93.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 758,417 shares of the company’s stock worth $36,851,000 after buying an additional 366,181 shares during the period. Finally, LSV Asset Management boosted its position in shares of Sylvamo by 98.0% during the first quarter. LSV Asset Management now owns 678,555 shares of the company’s stock worth $31,390,000 after buying an additional 335,851 shares during the period. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Trading Up 1.1 %

NYSE:SLVM opened at $42.23 on Friday. The firm has a market cap of $1.77 billion, a PE ratio of 6.21, a price-to-earnings-growth ratio of 0.23 and a beta of 1.06. The stock has a fifty day moving average price of $42.92 and a 200 day moving average price of $44.17. Sylvamo Co. has a 12-month low of $33.30 and a 12-month high of $57.38. The company has a current ratio of 1.74, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11.

Sylvamo (NYSE:SLVM) last released its earnings results on Wednesday, August 9th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.17. The firm had revenue of $919.00 million during the quarter, compared to analyst estimates of $950.84 million. Sylvamo had a return on equity of 55.02% and a net margin of 7.87%. Sylvamo’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $2.02 earnings per share. Sell-side analysts anticipate that Sylvamo Co. will post 5.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SLVM has been the subject of several research analyst reports. Royal Bank of Canada lowered Sylvamo from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $55.00 to $44.00 in a research report on Thursday, August 10th. Bank of America upgraded Sylvamo from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $61.00 in a research report on Monday, July 10th.

About Sylvamo

Sylvamo Corporation produces and markets uncoated freesheet, cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.