Sylvamo (NYSE:SLVM) Sees Large Volume Increase

Shares of Sylvamo Co. (NYSE:SLVM) saw an uptick in trading volume on Monday . 851,794 shares traded hands during trading, an increase of 147% from the previous session’s volume of 344,493 shares.The stock last traded at $69.12 and had previously closed at $68.60.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upped their price target on Sylvamo from $56.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, May 13th.

Sylvamo Price Performance

The firm has a market cap of $2.80 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 0.34 and a beta of 1.07. The business has a 50-day simple moving average of $68.39 and a 200 day simple moving average of $59.21. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.09 and a current ratio of 1.72.

Sylvamo (NYSE:SLVM) last announced its earnings results on Friday, May 10th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.02. Sylvamo had a return on equity of 24.67% and a net margin of 5.40%. The firm had revenue of $905.00 million during the quarter, compared to analyst estimates of $864.38 million. During the same quarter in the prior year, the company earned $2.51 EPS. The business’s revenue was down 3.8% compared to the same quarter last year. On average, analysts anticipate that Sylvamo Co. will post 6.75 earnings per share for the current fiscal year.

Sylvamo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Monday, July 8th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.65%. This is a positive change from Sylvamo’s previous quarterly dividend of $0.30. Sylvamo’s dividend payout ratio is currently 25.59%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mariner LLC bought a new position in Sylvamo during the 3rd quarter valued at approximately $742,000. Royal London Asset Management Ltd. increased its position in Sylvamo by 60.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,823,426 shares of the company’s stock valued at $80,167,000 after buying an additional 690,117 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Sylvamo by 1.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 399,920 shares of the company’s stock valued at $17,572,000 after buying an additional 6,785 shares in the last quarter. American Century Companies Inc. increased its position in Sylvamo by 34.9% during the 3rd quarter. American Century Companies Inc. now owns 372,185 shares of the company’s stock valued at $16,354,000 after buying an additional 96,364 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Sylvamo by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,620,331 shares of the company’s stock valued at $115,137,000 after buying an additional 78,279 shares in the last quarter. Institutional investors own 91.16% 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.