Harvest Investment Services LLC Buys Shares of 7,588 Sylvamo Co. (NYSE:SLVM)

Harvest Investment Services LLC acquired a new stake in Sylvamo Co. (NYSE:SLVM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,588 shares of the company’s stock, valued at approximately $600,000.

A number of other hedge funds have also added to or reduced their stakes in SLVM. Tidal Investments LLC raised its holdings in shares of Sylvamo by 150.9% during the 3rd quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock worth $1,929,000 after buying an additional 13,512 shares in the last quarter. GAMMA Investing LLC raised its stake in Sylvamo by 43.6% during the fourth quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after acquiring an additional 201 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Sylvamo by 224.6% in the fourth quarter. Blue Trust Inc. now owns 11,284 shares of the company’s stock worth $969,000 after acquiring an additional 7,808 shares during the last quarter. Barclays PLC boosted its stake in shares of Sylvamo by 324.6% in the 3rd quarter. Barclays PLC now owns 62,435 shares of the company’s stock valued at $5,360,000 after purchasing an additional 47,730 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Sylvamo by 7.0% during the 4th quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company’s stock valued at $363,000 after purchasing an additional 300 shares during the last quarter. 91.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada cut their target price on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th.

Sylvamo Stock Performance

NYSE:SLVM opened at $59.80 on Wednesday. The stock’s 50-day moving average is $65.26 and its 200-day moving average is $77.32. The stock has a market cap of $2.43 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. Sylvamo Co. has a 1-year low of $54.94 and a 1-year high of $98.02. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. Equities research analysts anticipate that Sylvamo Co. will post 7.45 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s dividend payout ratio is presently 24.97%.

Insiders Place Their Bets

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the transaction, the chief executive officer now directly owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. This trade represents a 13.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.74% of the company’s stock.

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.