Sylvamo Co. (NYSE:SLVM) Sees Significant Growth in Short Interest

Sylvamo Co. (NYSE:SLVM) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,250,000 shares, a growth of 20.2% from the November 30th total of 1,040,000 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average daily trading volume, of 296,900 shares, the days-to-cover ratio is currently 4.2 days.

Sylvamo Stock Up 0.6 %

SLVM traded up $0.46 during midday trading on Tuesday, reaching $79.02. The company’s stock had a trading volume of 364,809 shares, compared to its average volume of 320,418. The stock’s 50-day moving average is $87.15 and its 200-day moving average is $79.64. Sylvamo has a 1 year low of $44.94 and a 1 year high of $98.02. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.92 and a beta of 1.08. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. During the same quarter in the prior year, the business posted $1.70 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Sylvamo will post 7.15 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Monday, January 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, January 6th. Sylvamo’s dividend payout ratio is presently 27.99%.

Institutional Trading of Sylvamo

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Sylvamo by 83,084.0% during the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock valued at $197,815,000 after purchasing an additional 2,301,427 shares during the last quarter. State Street Corp boosted its position in shares of Sylvamo by 0.9% during the third quarter. State Street Corp now owns 1,407,303 shares of the company’s stock valued at $120,817,000 after buying an additional 12,181 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Sylvamo by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock worth $90,276,000 after buying an additional 62,157 shares in the last quarter. Geode Capital Management LLC raised its position in Sylvamo by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 915,997 shares of the company’s stock worth $78,652,000 after buying an additional 27,859 shares during the last quarter. Finally, FMR LLC lifted its stake in Sylvamo by 4.4% during the 3rd quarter. FMR LLC now owns 724,391 shares of the company’s stock valued at $62,189,000 after acquiring an additional 30,345 shares during the period. 91.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on SLVM shares. Sidoti started coverage on Sylvamo in a research report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective on the stock. Bank of America restated an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a research report on Wednesday, December 11th.

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.