Sylvamo (NYSE:SLVM) Hits New 1-Year High at $64.44

Sylvamo Co. (NYSE:SLVM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $64.44 and last traded at $64.08, with a volume of 28221 shares trading hands. The stock had previously closed at $62.98.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price objective (up from $45.00) on shares of Sylvamo in a report on Monday, February 26th.

Sylvamo Price Performance

The stock has a fifty day simple moving average of $60.32 and a 200-day simple moving average of $52.35. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $2.69 billion, a PE ratio of 10.64, a P/E/G ratio of 0.34 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.34. The company had revenue of $964.00 million for the quarter, compared to the consensus estimate of $903.72 million. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.97 earnings per share. Equities analysts anticipate that Sylvamo Co. will post 6.15 earnings per share for the current year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Monday, April 8th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Friday, April 5th. Sylvamo’s dividend payout ratio is presently 20.27%.

Insider Activity at Sylvamo

In related news, CEO Jeanmichel Ribieras sold 12,225 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $57.20, for a total transaction of $699,270.00. Following the completion of the sale, the chief executive officer now directly owns 132,276 shares in the company, valued at $7,566,187.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jeanmichel Ribieras sold 12,225 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $57.20, for a total transaction of $699,270.00. Following the sale, the chief executive officer now directly owns 132,276 shares in the company, valued at approximately $7,566,187.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Peggy Maes sold 1,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total value of $55,090.00. Following the completion of the transaction, the senior vice president now directly owns 10,535 shares in the company, valued at approximately $580,373.15. The disclosure for this sale can be found here. Insiders have sold a total of 26,951 shares of company stock worth $1,618,664 in the last three months. 0.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sylvamo

Hedge funds have recently modified their holdings of the stock. Royal London Asset Management Ltd. grew its stake in shares of Sylvamo by 60.9% during the third quarter. Royal London Asset Management Ltd. now owns 1,823,426 shares of the company’s stock worth $80,167,000 after buying an additional 690,117 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Sylvamo by 15.8% during the 3rd quarter. William Blair Investment Management LLC now owns 1,773,987 shares of the company’s stock valued at $77,949,000 after acquiring an additional 241,441 shares during the period. Norges Bank purchased a new stake in shares of Sylvamo during the 4th quarter valued at approximately $10,206,000. Victory Capital Management Inc. lifted its stake in shares of Sylvamo by 257.6% during the 3rd quarter. Victory Capital Management Inc. now owns 179,218 shares of the company’s stock valued at $7,875,000 after buying an additional 129,106 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Sylvamo by 34.9% in the 3rd quarter. American Century Companies Inc. now owns 372,185 shares of the company’s stock worth $16,354,000 after purchasing an additional 96,364 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

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.