Sidoti Begins Coverage on Sylvamo (NYSE:SLVM)

Sidoti started coverage on shares of Sylvamo (NYSE:SLVM) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $100.00 price target on the stock.

Several other equities research analysts also recently issued reports on the company. Bank of America increased their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada lifted 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 0.9 %

Shares of Sylvamo stock opened at $87.03 on Tuesday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 4.97 and a beta of 1.08. 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 company has a 50-day simple moving average of $79.66 and a 200 day simple moving average of $71.58. Sylvamo has a 12-month low of $41.47 and a 12-month high of $88.42.

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. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The business had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. During the same quarter last year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts expect that Sylvamo will post 7.4 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.07%. Sylvamo’s dividend payout ratio (DPR) is currently 32.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after buying an additional 138,655 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of Sylvamo by 105.7% during the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock worth $974,000 after acquiring an additional 7,291 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Sylvamo during the first quarter worth about $586,000. Jupiter Asset Management Ltd. increased its position in shares of Sylvamo by 30.2% during the first quarter. Jupiter Asset Management Ltd. now owns 123,993 shares of the company’s stock worth $7,655,000 after acquiring an additional 28,763 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Sylvamo during the first quarter worth about $4,208,000. Institutional investors and hedge funds 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.