Sylvamo Co. (NYSE:SLVM) Sees Large Increase in Short Interest

Sylvamo Co. (NYSE:SLVM) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,250,000 shares, an increase of 20.2% from the November 30th total of 1,040,000 shares. Based on an average daily trading volume, of 296,900 shares, the short-interest ratio is presently 4.2 days. Approximately 3.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SLVM. Bank of Montreal Can lifted its stake in shares of Sylvamo by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock valued at $389,000 after buying an additional 154 shares in the last quarter. GAMMA Investing LLC raised its holdings in Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after acquiring an additional 171 shares during the period. Fortitude Family Office LLC lifted its position in shares of Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after acquiring an additional 239 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Sylvamo by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,688 shares of the company’s stock worth $1,351,000 after acquiring an additional 336 shares during the period. Finally, Highland Capital Management LLC grew its position in shares of Sylvamo by 9.6% during the third quarter. Highland Capital Management LLC now owns 3,950 shares of the company’s stock worth $339,000 after purchasing an additional 347 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SLVM shares. Sidoti initiated coverage on Sylvamo in a research note on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price target on the stock. Bank of America reissued an “underperform” rating and issued a $96.00 target price on shares of Sylvamo in a report on Wednesday, December 11th.

Sylvamo Stock Performance

SLVM stock traded up $0.46 during midday trading on Tuesday, reaching $79.02. 364,809 shares of the company’s stock traded hands, 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. The stock has a market cap of $3.24 billion, a P/E ratio of 12.29, a PEG ratio of 2.92 and a beta of 1.08. Sylvamo has a 52-week low of $44.94 and a 52-week high of $98.02. 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 data on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. Sylvamo’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 EPS. As a group, analysts anticipate that Sylvamo will post 7.15 EPS for the current year.

Sylvamo Announces Dividend

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

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.