Sylvamo (NYSE:SLVM) Hits New 52-Week High on Analyst Upgrade

Sylvamo Co. (NYSE:SLVM)’s share price reached a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $82.00 to $88.00. Bank of America currently has a neutral rating on the stock. Sylvamo traded as high as $88.42 and last traded at $86.71, with a volume of 122041 shares. The stock had previously closed at $87.18.

Separately, Royal Bank of Canada raised their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th.

Institutional Trading of Sylvamo

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Sylvamo by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock worth $56,406,000 after buying an additional 79,778 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Sylvamo in the fourth quarter worth $605,000. Norges Bank acquired a new position in Sylvamo in the fourth quarter worth $10,206,000. Assetmark Inc. grew its holdings in shares of Sylvamo by 5.2% during the fourth quarter. Assetmark Inc. now owns 43,063 shares of the company’s stock worth $2,115,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Chesapeake Capital Corp IL acquired a new stake in shares of Sylvamo in the fourth quarter valued at $969,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

Sylvamo Price Performance

The stock has a fifty day moving average of $74.93 and a 200-day moving average of $68.68. 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 $3.50 billion, a P/E ratio of 17.85, a PEG ratio of 4.60 and a beta of 1.07.

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

Sylvamo Announces Dividend

The business also recently declared 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is currently 38.38%.

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.