Royal London Asset Management Ltd. Sells 177,497 Shares of Sylvamo Co. (NYSE:SLVM)

Royal London Asset Management Ltd. reduced its stake in shares of Sylvamo Co. (NYSE:SLVM) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,469,790 shares of the company’s stock after selling 177,497 shares during the period. Royal London Asset Management Ltd. owned 3.58% of Sylvamo worth $116,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in shares of Sylvamo in the 3rd quarter worth approximately $760,000. Intech Investment Management LLC bought a new position in Sylvamo during the third quarter worth $1,633,000. Massachusetts Financial Services Co. MA acquired a new position in Sylvamo in the third quarter valued at $3,046,000. Pacer Advisors Inc. boosted its position in Sylvamo by 83,084.0% during the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock valued at $197,815,000 after acquiring an additional 2,301,427 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in Sylvamo by 67.0% during the 3rd quarter. Citigroup Inc. now owns 46,518 shares of the company’s stock worth $3,994,000 after acquiring an additional 18,657 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLVM. Royal Bank of Canada dropped their price objective on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Bank of America reissued an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research note on Wednesday, December 11th.

Sylvamo Price Performance

SLVM stock opened at $66.49 on Thursday. Sylvamo Co. has a 1 year low of $56.35 and a 1 year high of $98.02. The stock has a market capitalization of $2.70 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The company’s 50-day moving average is $73.46 and its 200-day moving average is $80.46. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03.

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, topping the consensus estimate of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Equities research analysts expect that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.71%. Sylvamo’s dividend payout ratio (DPR) is presently 24.97%.

Insiders Place Their Bets

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 131,894 shares of the company’s stock, valued at $8,591,575.16. This represents a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.75% 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.