Sylvamo (NYSE:SLVM) Reaches New 52-Week High at $81.23

Sylvamo Co. (NYSE:SLVM)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $81.23 and last traded at $80.90, with a volume of 35792 shares trading hands. The stock had previously closed at $77.95.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SLVM. Royal Bank of Canada lifted their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Bank of America reissued a “neutral” rating and set a $82.00 price objective (up previously from $71.00) on shares of Sylvamo in a research note on Monday, August 12th.

Sylvamo Stock Up 1.7 %

The stock’s fifty day moving average price is $73.71 and its 200-day moving average price is $68.09. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 4.41 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. The company had revenue of $933.00 million for the quarter, compared to analysts’ expectations of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. On average, sell-side analysts predict that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd will be given a $0.45 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.27%. Sylvamo’s payout ratio is 38.38%.

Hedge Funds Weigh In On Sylvamo

Several large investors have recently modified their holdings of SLVM. Bank of Montreal Can boosted its position in shares of Sylvamo by 2.8% in the second quarter. Bank of Montreal Can now owns 5,666 shares of the company’s stock valued at $389,000 after acquiring an additional 154 shares during the period. CWM LLC boosted its holdings in Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after purchasing an additional 157 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Sylvamo by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company’s stock worth $1,165,000 after purchasing an additional 216 shares during the period. Fifth Third Bancorp raised its position in shares of Sylvamo by 149.3% in the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after buying an additional 303 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position 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 valued at $1,351,000 after buying an additional 336 shares in the last quarter. 91.16% of the stock is owned by institutional investors.

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.