Cibc World Markets Corp Buys 3,255 Shares of Sylvamo Co. (NYSE:SLVM)

Cibc World Markets Corp increased its stake in Sylvamo Co. (NYSE:SLVM) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,255 shares of the company’s stock after acquiring an additional 3,255 shares during the quarter. Cibc World Markets Corp owned 0.12% of Sylvamo worth $3,813,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its stake in shares of Sylvamo by 150.9% in the 3rd quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock valued at $1,929,000 after acquiring an additional 13,512 shares in the last quarter. HighTower Advisors LLC grew its position in Sylvamo by 473.5% in the 3rd quarter. HighTower Advisors LLC now owns 18,467 shares of the company’s stock valued at $1,587,000 after purchasing an additional 15,247 shares during the period. Citigroup Inc. grew its position in Sylvamo by 67.0% in the 3rd quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock valued at $3,994,000 after purchasing an additional 18,657 shares during the period. GAMMA Investing LLC grew its position in Sylvamo by 43.6% in the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after purchasing an additional 201 shares during the period. Finally, Martingale Asset Management L P grew its position in Sylvamo by 47.4% in the 3rd quarter. Martingale Asset Management L P now owns 51,137 shares of the company’s stock valued at $4,390,000 after purchasing an additional 16,450 shares during the period. Institutional investors own 91.16% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $65.53, for a total value of $1,392,512.50. Following the transaction, the chief executive officer now directly owns 153,144 shares of the company’s stock, valued at approximately $10,035,526.32. The trade was a 12.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

SLVM has been the subject of several research reports. Bank of America reissued an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their price target on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th.

Sylvamo Price Performance

SLVM opened at $66.49 on Thursday. 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 company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 2.23 and a beta of 1.15. The firm’s fifty day moving average price is $73.46 and its two-hundred day moving average price is $80.46. 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 results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. As a group, analysts anticipate 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo’s dividend payout ratio (DPR) is currently 24.97%.

About Sylvamo

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.