Sylvamo (NYSE:SLVM) Stock Price Down 9.7% – Here’s What Happened

Shares of Sylvamo Co. (NYSE:SLVM) fell 9.7% on Wednesday . The stock traded as low as $68.36 and last traded at $68.75. 56,650 shares traded hands during trading, a decline of 77% from the average session volume of 241,966 shares. The stock had previously closed at $76.12.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SLVM shares. Bank of America reiterated an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a report on Wednesday, December 11th. Royal Bank of Canada decreased their price target on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday.

Sylvamo Stock Performance

The stock’s 50 day moving average price is $80.73 and its 200 day moving average price is $81.53. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 2.22 and a beta of 1.12.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. Analysts expect that Sylvamo Co. will post 7.15 earnings per share for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Monday, January 6th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.51%. Sylvamo’s payout ratio is 27.99%.

Hedge Funds Weigh In On Sylvamo

Institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after buying an additional 239 shares during the last quarter. GAMMA Investing LLC increased its holdings in Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after buying an additional 171 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Sylvamo by 182.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock valued at $49,000 after buying an additional 403 shares during the period. Fifth Third Bancorp raised its stake in Sylvamo by 40.9% in the fourth quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after buying an additional 214 shares during the period. Finally, Covestor Ltd raised its stake in Sylvamo by 464.5% in the fourth quarter. Covestor Ltd now owns 779 shares of the company’s stock valued at $62,000 after buying an additional 641 shares during the period. 91.16% of the stock is currently 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.