Jupiter Asset Management Ltd. Increases Stake in Sylvamo Co. (NYSE:SLVM)

Jupiter Asset Management Ltd. raised its position in Sylvamo Co. (NYSE:SLVM) by 30.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 123,993 shares of the company’s stock after purchasing an additional 28,763 shares during the period. Jupiter Asset Management Ltd. owned 0.30% of Sylvamo worth $7,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLVM. Everence Capital Management Inc. acquired a new stake in shares of Sylvamo in the 1st quarter worth $217,000. Duality Advisers LP acquired a new stake in shares of Sylvamo during the 1st quarter worth about $261,000. Mackenzie Financial Corp acquired a new stake in shares of Sylvamo during the 4th quarter worth about $219,000. Truist Financial Corp acquired a new stake in shares of Sylvamo during the 4th quarter worth about $308,000. Finally, Simplicity Wealth LLC acquired a new stake in shares of Sylvamo during the 1st quarter worth about $426,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised their price objective on Sylvamo from $56.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, May 13th.

Sylvamo Stock Up 1.3 %

Shares of SLVM traded up $0.90 during midday trading on Friday, hitting $71.39. The company had a trading volume of 281,153 shares, compared to its average volume of 400,185. The company’s 50-day simple moving average is $69.55 and its 200-day simple moving average is $60.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.09 and a current ratio of 1.72. The firm has a market capitalization of $2.94 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.35 and a beta of 1.07. Sylvamo Co. has a 1 year low of $37.59 and a 1 year high of $73.84.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, May 10th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.02. The business had revenue of $905.00 million during the quarter, compared to analysts’ expectations of $864.38 million. Sylvamo had a return on equity of 24.67% and a net margin of 5.40%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.51 EPS. As a group, sell-side analysts expect that Sylvamo Co. will post 6.9 EPS for the current year.

Sylvamo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Monday, July 8th will be paid a dividend of $0.45 per share. This is a boost from Sylvamo’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, July 8th. This represents a $1.80 annualized dividend and a yield of 2.52%. Sylvamo’s payout ratio is presently 38.38%.

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.