Sylvamo (NYSE:SLVM) Sees Unusually-High Trading Volume

Shares of Sylvamo Co. (NYSE:SLVM) saw unusually-strong trading volume on Friday . Approximately 142,055 shares changed hands during mid-day trading, a decline of 58% from the previous session’s volume of 337,275 shares.The stock last traded at $67.78 and had previously closed at $67.47.

Analysts Set New Price Targets

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

Sylvamo Trading Down 0.5 %

The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.33 and a beta of 1.07. The company’s 50 day moving average is $69.04 and its 200 day moving average is $60.11. 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 released its earnings results on Friday, May 10th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.05 by $0.02. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The firm had revenue of $905.00 million during the quarter, compared to analysts’ expectations of $864.38 million. During the same period in the prior year, the company earned $2.51 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, research analysts forecast that Sylvamo Co. will post 6.9 EPS for the current fiscal year.

Sylvamo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Monday, July 8th will be paid a $0.45 dividend. This is a boost from Sylvamo’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.68%. Sylvamo’s dividend payout ratio is currently 38.38%.

Institutional Investors Weigh In On Sylvamo

A number of hedge funds have recently made changes to their positions in SLVM. Vanguard Group Inc. grew its holdings in Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after acquiring an additional 138,655 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sylvamo by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock valued at $56,406,000 after purchasing an additional 79,778 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Sylvamo in the 2nd quarter valued at about $62,101,000. American Century Companies Inc. boosted its stake in shares of Sylvamo by 34.9% in the 3rd quarter. American Century Companies Inc. now owns 372,185 shares of the company’s stock valued at $16,354,000 after purchasing an additional 96,364 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Sylvamo by 41.4% in the 4th quarter. Victory Capital Management Inc. now owns 253,358 shares of the company’s stock valued at $12,442,000 after purchasing an additional 74,140 shares during the last quarter. Institutional investors and hedge funds 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.