Sylvamo (NYSE:SLVM) Hits New 1-Year High at $74.75

Shares of Sylvamo Co. (NYSE:SLVM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $74.75 and last traded at $74.40, with a volume of 66207 shares traded. The stock had previously closed at $72.05.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upped their price objective on shares of Sylvamo from $56.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, May 13th.

Sylvamo Stock Performance

The company has a current ratio of 1.72, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04. The company’s 50-day simple moving average is $69.90 and its 200-day simple moving average is $61.63. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 0.36 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, May 10th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.02. The business had revenue of $905.00 million for the quarter, compared to analyst estimates of $864.38 million. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. Sylvamo’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 earnings per share. On average, analysts expect that Sylvamo Co. will post 6.9 EPS for the current year.

Sylvamo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Monday, July 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Monday, July 8th. This is an increase from Sylvamo’s previous quarterly dividend of $0.30. Sylvamo’s dividend payout ratio (DPR) is 38.38%.

Institutional Trading of Sylvamo

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in Sylvamo by 4,871.5% during the fourth quarter. International Assets Investment Management LLC now owns 30,923 shares of the company’s stock worth $1,519,000 after buying an additional 30,301 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Sylvamo during the first quarter worth about $586,000. Jupiter Asset Management Ltd. increased its holdings in 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 buying an additional 28,763 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Sylvamo by 15.2% during the fourth quarter. Allianz Asset Management GmbH now owns 159,189 shares of the company’s stock worth $7,818,000 after buying an additional 21,026 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Sylvamo during the fourth quarter worth about $2,456,000. Hedge funds and other 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.