Harvest Fund Management Co. Ltd Buys Shares of 4,377 Sylvamo Co. (NYSE:SLVM)

Harvest Fund Management Co. Ltd purchased a new position in shares of Sylvamo Co. (NYSE:SLVM) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,377 shares of the company’s stock, valued at approximately $376,000.

Other institutional investors have also modified their holdings of the company. Bank of Montreal Can boosted its position in Sylvamo by 2.8% during the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock worth $389,000 after acquiring an additional 154 shares during the last quarter. CWM LLC boosted its holdings in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after purchasing an additional 157 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after purchasing an additional 171 shares during the period. SummerHaven Investment Management LLC increased its stake in Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after purchasing an additional 216 shares during the last quarter. Finally, Fortitude Family Office LLC increased its stake in Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Stock Performance

Sylvamo stock opened at $94.45 on Wednesday. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 14.69 and a beta of 1.08. Sylvamo Co. has a 12 month low of $44.94 and a 12 month high of $98.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The stock’s 50-day moving average is $85.91 and its 200-day moving average is $76.88.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The firm had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. During the same quarter last year, the firm posted $1.70 earnings per share. Sylvamo’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts anticipate that Sylvamo Co. will post 7.07 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 1.91%. Sylvamo’s dividend payout ratio (DPR) is 27.99%.

Analysts Set New Price Targets

SLVM has been the subject of several recent analyst reports. Sidoti assumed coverage on Sylvamo in a report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target for the company. Bank of America boosted their target price on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada increased their price target on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th.

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.