Renaissance Technologies LLC Decreases Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Renaissance Technologies LLC lowered its stake in shares of Sylvamo Co. (NYSE:SLVM) by 3.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 145,600 shares of the company’s stock after selling 5,600 shares during the period. Renaissance Technologies LLC’s holdings in Sylvamo were worth $11,505,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $49,000 after purchasing an additional 403 shares during the period. GAMMA Investing LLC raised its stake in Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock valued at $52,000 after buying an additional 201 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after buying an additional 214 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Sylvamo in the 3rd quarter worth $82,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Sylvamo by 277.9% in the fourth quarter. Fortitude Family Office LLC now owns 1,678 shares of the company’s stock worth $133,000 after acquiring an additional 1,234 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sylvamo Stock Up 0.3 %

SLVM opened at $60.03 on Wednesday. The firm’s 50 day simple moving average is $66.71 and its two-hundred day simple moving average is $78.12. The company has a market capitalization of $2.44 billion, a PE ratio of 8.33, a PEG 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 earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. As a group, equities analysts forecast that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Investors 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 dividend yield of 3.00%. Sylvamo’s dividend payout ratio (DPR) is presently 24.97%.

Insider Buying and Selling

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the company’s stock in a transaction on Monday, March 17th. The shares were 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 owns 131,894 shares of the company’s stock, valued at approximately $8,591,575.16. This represents a 13.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.75% of the stock is currently owned by insiders.

Sylvamo 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.