Fifth Third Bancorp Acquires 214 Shares of Sylvamo Co. (NYSE:SLVM)

Fifth Third Bancorp increased its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 40.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 737 shares of the company’s stock after purchasing an additional 214 shares during the quarter. Fifth Third Bancorp’s holdings in Sylvamo were worth $58,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SLVM. Pacer Advisors Inc. boosted its holdings in shares of Sylvamo by 83,084.0% in the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock valued at $197,815,000 after buying an additional 2,301,427 shares during the period. International Assets Investment Management LLC boosted its stake in Sylvamo by 6,693.0% in the 3rd quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock worth $5,931,000 after purchasing an additional 68,068 shares during the period. Barclays PLC increased its holdings in Sylvamo by 324.6% during the 3rd quarter. Barclays PLC now owns 62,435 shares of the company’s stock worth $5,360,000 after purchasing an additional 47,730 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sylvamo in the 3rd quarter valued at about $3,046,000. Finally, Creative Planning lifted its holdings in shares of Sylvamo by 430.8% in the third quarter. Creative Planning now owns 41,017 shares of the company’s stock valued at $3,521,000 after purchasing an additional 33,289 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SLVM shares. Sidoti started coverage on Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 target price on the stock. Bank of America reiterated an “underperform” rating and issued a $96.00 price objective on shares of Sylvamo in a report on Wednesday, December 11th.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $80.05 on Monday. Sylvamo Co. has a fifty-two week low of $44.94 and a fifty-two week high of $98.02. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 2.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The business has a 50-day moving average of $83.29 and a 200-day moving average of $81.31.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.70 EPS. As a group, sell-side analysts predict that Sylvamo Co. will post 7.15 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Monday, January 6th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, January 6th. Sylvamo’s dividend payout ratio (DPR) is currently 27.99%.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for 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 graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.