Sylvamo (NYSE:SLVM) Hits New 12-Month High at $81.23

Sylvamo Co. (NYSE:SLVM) shares reached a new 52-week high on Tuesday . The company traded as high as $81.23 and last traded at $80.90, with a volume of 35792 shares. The stock had previously closed at $77.95.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $82.00 price objective (up from $71.00) on shares of Sylvamo in a research note on Monday, August 12th. Royal Bank of Canada increased their price target on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th.

Sylvamo Trading Up 2.8 %

The company has a market capitalization of $3.37 billion, a P/E ratio of 17.51, a PEG ratio of 4.60 and a beta of 1.07. The business has a 50 day moving average price of $74.54 and a 200 day moving average price of $68.39. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, August 9th. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.58 by $0.40. The firm had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Analysts anticipate that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s payout ratio is presently 38.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its holdings in shares of Sylvamo by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock valued at $389,000 after purchasing an additional 154 shares in the last quarter. CWM LLC lifted its stake in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after buying an additional 157 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Sylvamo by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock valued at $1,165,000 after buying an additional 216 shares during the period. Fifth Third Bancorp increased its position in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Sylvamo by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 19,688 shares of the company’s stock worth $1,351,000 after acquiring an additional 336 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

About Sylvamo

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.