Kimelman & Baird LLC Sells 408 Shares of Sylvamo Co. (NYSE:SLVM)

Kimelman & Baird LLC cut its position in shares of Sylvamo Co. (NYSE:SLVM) by 35.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 727 shares of the company’s stock after selling 408 shares during the period. Kimelman & Baird LLC’s holdings in Sylvamo were worth $57,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SLVM. Crossmark Global Holdings Inc. bought a new position in shares of Sylvamo during the third quarter worth about $222,000. Versor Investments LP bought a new position in shares of Sylvamo during the third quarter worth about $230,000. Entropy Technologies LP bought a new position in shares of Sylvamo during the third quarter worth about $211,000. Chesapeake Capital Corp IL grew its holdings in shares of Sylvamo by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 9,118 shares of the company’s stock worth $773,000 after buying an additional 1,989 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Sylvamo during the third quarter valued at approximately $760,000. 91.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Bank of America reissued an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their price target on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th.

Sylvamo Stock Performance

Shares of NYSE SLVM opened at $65.42 on Monday. Sylvamo Co. has a 52 week low of $56.20 and a 52 week high of $98.02. The stock has a market capitalization of $2.65 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The stock has a 50 day moving average price of $74.15 and a 200 day moving average price of $80.74. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.75%. Sylvamo’s payout ratio is 24.97%.

Insider Activity

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $65.53, for a total transaction of $1,392,512.50. Following the completion of the sale, the chief executive officer now directly owns 153,144 shares of the company’s stock, valued at approximately $10,035,526.32. This trade represents a 12.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.