Commerce Bank increased its stake in shares of Sylvamo Co. (NYSE: SLVM – Get Rating) by 56.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor held 16,695 shares of the company after purchasing an additional 6,030 shares during the quarter. Commerce Bank’s holdings in Sylvamo were worth $555,000 at the end of the most recent period.
Several other institutional investors have also recently increased or reduced their stake in SLVM. UMB Bank NA MO acquired a new stake in Sylvamo during the fourth quarter worth approximately $38,000. Capital Analysts LLC acquired a new stake in Sylvamo in the fourth quarter worth approximately $50,000. Zurich Insurance Group Ltd FI bought a new stake in Sylvamo in the fourth quarter, valued at around $51,000. The South Dakota Investment Council bought a new stake in Sylvamo in the fourth quarter worth about $60,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Sylvamo in the fourth quarter worth approximately $74,000. Hedge funds and other institutional investors own 82.83% of the company’s shares.
Changes to analyst ratings
Separately, Royal Bank of Canada raised its price target on Sylvamo from $45.00 to $55.00 in a Friday, August 12 research note.
Sylvamo trades down 0.7%
NYSE:SLVM opened at $43.70 on Wednesday. The company has a market capitalization of $1.93 billion and a P/E ratio of 15.83. The company has a current ratio of 1.52, a quick ratio of 1.18 and a debt ratio of 5.12. The stock’s 50-day simple moving average is $36.78 and its 200-day simple moving average is $38.23. Sylvamo Co. has a 12 month minimum of $23.10 and a 12 month maximum of $53.00.
Sylvamo dividend announcement
The company also recently announced a — dividend, which was paid on Friday, July 15. Shareholders of record on Friday, June 17 received a dividend of $0.1125. The ex-dividend date was Thursday, June 16. Sylvamo’s payout ratio is currently 16.30%.
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Sylvamo Corporation produces and supplies printing paper in Latin America, Europe and North America. The company offers uncoated fine papers for paper products, such as cut and offset paper; and markets pulp, aseptic and liquid board, as well as unbleached coated kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft pulp; and bleached chemo-thermomechanical pulp.
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