Sylvamo (NYSE:SLVM) Hits New 52-Week High – Still a Buy?

Sylvamo Co. (NYSE:SLVM)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $98.02 and last traded at $96.58, with a volume of 12828 shares. The stock had previously closed at $95.69.

Analysts Set New Price Targets

SLVM has been the topic of several recent analyst reports. Bank of America lifted their price target on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada upped their target price on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Finally, Sidoti started coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target on the stock.

Sylvamo Stock Down 6.9 %

The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 5.10 and a beta of 1.08. The business has a 50 day moving average of $83.21 and a 200 day moving average of $75.06. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, October 3rd. Sylvamo’s dividend payout ratio is 32.55%.

Institutional Investors Weigh In On Sylvamo

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after buying an additional 138,655 shares in the last quarter. Simplicity Wealth LLC grew its position in Sylvamo by 105.7% in the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after acquiring an additional 7,291 shares during the period. Concurrent Investment Advisors LLC acquired a new position in Sylvamo during the first quarter worth $586,000. Jupiter Asset Management Ltd. lifted its holdings 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 valued at $7,655,000 after acquiring an additional 28,763 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Sylvamo by 33.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,156 shares of the company’s stock valued at $2,104,000 after purchasing an additional 8,503 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

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.