Jeanmichel Ribieras Sells 21,250 Shares of Sylvamo Co. (NYSE:SLVM) Stock

Sylvamo Co. (NYSE:SLVM) CEO Jeanmichel Ribieras sold 21,250 shares of Sylvamo stock in a transaction on Monday, March 10th. The shares were 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 owns 153,144 shares in the company, valued at approximately $10,035,526.32. This represents a 12.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sylvamo Stock Performance

Shares of NYSE:SLVM opened at $63.57 on Friday. The firm has a fifty day simple moving average of $74.43 and a two-hundred day simple moving average of $80.79. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $2.58 billion, a P/E ratio of 8.82, a PEG ratio of 2.23 and a beta of 1.15. Sylvamo Co. has a 52 week low of $56.20 and a 52 week high of $98.02.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. On average, analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo’s dividend payout ratio is currently 24.97%.

Institutional Trading of Sylvamo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its position in Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $49,000 after acquiring an additional 403 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after purchasing an additional 201 shares during the period. Fifth Third Bancorp grew its holdings in Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after purchasing an additional 214 shares during the last quarter. Covestor Ltd raised its position in Sylvamo by 464.5% in the 4th quarter. Covestor Ltd now owns 779 shares of the company’s stock worth $62,000 after purchasing an additional 641 shares during the period. Finally, LRI Investments LLC lifted its stake in Sylvamo by 4,825.0% in the third quarter. LRI Investments LLC now owns 788 shares of the company’s stock worth $66,000 after purchasing an additional 772 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Wall Street Analysts Forecast Growth

SLVM has been the topic of several research reports. Royal Bank of Canada reduced their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Bank of America reaffirmed an “underperform” rating and issued a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th.

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.