Sylvamo (NYSE:SLVM) Shares Up 3.9%

Sylvamo Co. (NYSE:SLVM)’s share price shot up 3.9% during mid-day trading on Friday . The company traded as high as $85.61 and last traded at $85.29. 305,974 shares traded hands during trading, a decline of 0% from the average session volume of 306,985 shares. The stock had previously closed at $82.11.

Wall Street Analyst Weigh In

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

Sylvamo Price Performance

The stock has a fifty day moving average of $74.93 and a 200-day moving average of $68.62. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $3.59 billion, a P/E ratio of 18.59, a PEG ratio of 4.60 and a beta of 1.07.

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

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be paid a $0.45 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.06%. Sylvamo’s dividend payout ratio (DPR) is currently 38.38%.

Hedge Funds Weigh In On Sylvamo

Large investors have recently made changes to their positions in the company. CWM LLC lifted its position in Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the period. Independence Bank of Kentucky boosted its stake in Sylvamo by 6,733.3% in the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after acquiring an additional 404 shares during the last quarter. Fifth Third Bancorp grew its holdings in Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after acquiring an additional 303 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Sylvamo during the 1st quarter valued at $45,000. Finally, Blue Trust Inc. lifted its stake in shares of Sylvamo by 534.1% in the 2nd quarter. Blue Trust Inc. now owns 818 shares of the company’s stock valued at $56,000 after purchasing an additional 689 shares during the period. 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.