ClariVest Asset Management LLC Makes New $2.02 Million Investment in Sylvamo Co. (NYSE:SLVM)

ClariVest Asset Management LLC bought a new stake in shares of Sylvamo Co. (NYSE:SLVM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,501 shares of the company’s stock, valued at approximately $2,024,000. ClariVest Asset Management LLC owned 0.07% of Sylvamo as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC increased its position in Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the period. SummerHaven Investment Management LLC increased its position in shares of Sylvamo by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after buying an additional 216 shares during the period. Fifth Third Bancorp increased its position in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after buying an additional 303 shares during the period. Vise Technologies Inc. raised its stake in Sylvamo by 2.4% in the fourth quarter. Vise Technologies Inc. now owns 13,210 shares of the company’s stock worth $649,000 after buying an additional 312 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in Sylvamo by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after buying an additional 400 shares during the period. Institutional investors own 91.16% of the company’s stock.

Sylvamo Trading Down 0.6 %

Shares of NYSE SLVM opened at $74.03 on Wednesday. Sylvamo Co. has a 1 year low of $40.15 and a 1 year high of $81.06. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05. The firm has a 50-day moving average of $73.07 and a 200 day moving average of $67.63. The stock has a market cap of $3.04 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 4.40 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last released its earnings results on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.40. The firm had revenue of $933.00 million during the quarter, compared to analyst estimates of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. As a group, sell-side analysts expect that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on SLVM shares. Royal Bank of Canada upped their target price on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a report on Monday, August 12th. Bank of America reaffirmed a “neutral” rating and issued a $82.00 price target (up from $71.00) on shares of Sylvamo 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.