Prudential Financial Inc. Grows Stock Position in Sylvamo Co. (NYSE:SLVM)

Prudential Financial Inc. raised its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,168 shares of the company’s stock after acquiring an additional 1,018 shares during the quarter. Prudential Financial Inc.’s holdings in Sylvamo were worth $10,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in shares of Sylvamo by 1.9% during the 4th quarter. LPL Financial LLC now owns 15,874 shares of the company’s stock worth $1,254,000 after purchasing an additional 299 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Sylvamo in the fourth quarter worth $830,000. American Century Companies Inc. lifted its holdings in shares of Sylvamo by 15.2% during the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock valued at $80,289,000 after acquiring an additional 134,066 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Sylvamo during the 4th quarter valued at $647,000. Finally, Cibc World Markets Corp boosted its position in Sylvamo by 7.2% during the 4th quarter. Cibc World Markets Corp now owns 48,255 shares of the company’s stock worth $3,813,000 after purchasing an additional 3,255 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Performance

NYSE:SLVM opened at $67.28 on Friday. The firm has a 50-day moving average of $71.86 and a two-hundred day moving average of $79.98. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. The stock has a market cap of $2.73 billion, a P/E ratio of 9.33, a PEG ratio of 2.23 and a beta of 1.15. Sylvamo Co. has a 1-year low of $56.35 and a 1-year high of $98.02.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. On average, research analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 2.68%. Sylvamo’s dividend payout ratio is presently 24.97%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLVM. Royal Bank of Canada cut their price objective on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Bank of America reissued an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th.

Insider Buying and Selling at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the sale, the chief executive officer now owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. The trade was a 13.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by insiders.

Sylvamo 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.