Sylvamo (NYSE:SLVM) Reaches New 1-Year High at $78.99

Sylvamo Co. (NYSE:SLVM) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $78.99 and last traded at $78.23, with a volume of 9420 shares traded. The stock had previously closed at $76.38.

Wall Street Analyst Weigh In

SLVM has been the topic of a number of recent research reports. Bank of America restated a “neutral” rating and issued a $82.00 target price (up from $71.00) on shares of Sylvamo in a report on Monday. Royal Bank of Canada lifted their price target on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday.

Sylvamo Stock Up 0.1 %

The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 0.37 and a beta of 1.07. The business’s 50 day moving average is $70.14 and its 200 day moving average is $63.92.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, August 9th. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.58 by $0.40. The business had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. Sylvamo’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. Equities analysts expect that Sylvamo Co. will post 6.9 earnings per share for the current year.

Sylvamo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Investors of record on Monday, July 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, July 8th. This is an increase from Sylvamo’s previous quarterly dividend of $0.30. This represents a $1.80 dividend on an annualized basis and a yield of 2.35%. Sylvamo’s payout ratio is presently 38.38%.

Hedge Funds Weigh In On Sylvamo

Hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in Sylvamo by 62.5% in the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of Sylvamo by 6,733.3% during the 2nd quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after purchasing an additional 404 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Sylvamo by 149.3% during the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after purchasing an additional 303 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Sylvamo in the 1st quarter valued at $45,000. Finally, Blue Trust Inc. boosted its holdings in Sylvamo by 534.1% in the second quarter. Blue Trust Inc. now owns 818 shares of the company’s stock worth $56,000 after purchasing an additional 689 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

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.