Sylvamo Corporation $SLVM Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its holdings in shares of Sylvamo Corporation (NYSE:SLVM) by 15.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 338,435 shares of the company’s stock after selling 62,567 shares during the period. Pictet Asset Management Holding SA’s holdings in Sylvamo were worth $14,295,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. American Century Companies Inc. raised its stake in Sylvamo by 7.2% during the third quarter. American Century Companies Inc. now owns 1,290,957 shares of the company’s stock worth $57,086,000 after acquiring an additional 87,095 shares during the period. Royce & Associates LP grew its holdings in shares of Sylvamo by 8.6% during the fourth quarter. Royce & Associates LP now owns 464,401 shares of the company’s stock valued at $22,361,000 after purchasing an additional 36,685 shares during the last quarter. WINTON GROUP Ltd grew its holdings in shares of Sylvamo by 802.6% during the third quarter. WINTON GROUP Ltd now owns 65,521 shares of the company’s stock valued at $2,897,000 after purchasing an additional 58,262 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Sylvamo by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,135 shares of the company’s stock worth $31,063,000 after purchasing an additional 56,393 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Sylvamo by 2,246.7% during the 4th quarter. SG Americas Securities LLC now owns 223,568 shares of the company’s stock worth $10,765,000 after purchasing an additional 214,041 shares during the period. 91.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SLVM shares. Zacks Research upgraded Sylvamo from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Royal Bank Of Canada dropped their target price on Sylvamo from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, May 11th. Weiss Ratings cut Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Truist Financial began coverage on shares of Sylvamo in a report on Monday, March 30th. They set a “buy” rating and a $54.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sylvamo currently has an average rating of “Hold” and a consensus price target of $54.00.

Insider Transactions at Sylvamo

In other news, Director Lizanne M. Bruce sold 1,230 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $41.70, for a total value of $51,291.00. Following the completion of the transaction, the director owned 14,475 shares of the company’s stock, valued at approximately $603,607.50. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.81% of the company’s stock.

Sylvamo Price Performance

Shares of NYSE:SLVM opened at $38.58 on Friday. The firm’s 50 day moving average is $39.83 and its two-hundred day moving average is $44.23. The firm has a market capitalization of $1.53 billion, a P/E ratio of 15.25, a PEG ratio of 0.57 and a beta of 0.87. The company has a current ratio of 1.45, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Sylvamo Corporation has a 52 week low of $35.53 and a 52 week high of $56.80.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.28). Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $740.85 million. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts anticipate that Sylvamo Corporation will post 2.32 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, July 7th. Sylvamo’s payout ratio is 71.15%.

Sylvamo Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.