Sylvamo (NYSE:SLVM) Hits New 1-Year High on Analyst Upgrade

Sylvamo Co. (NYSE:SLVM)’s stock price hit a new 52-week high on Monday after Bank of America raised their price target on the stock from $82.00 to $88.00. Bank of America currently has a neutral rating on the stock. Sylvamo traded as high as $88.42 and last traded at $86.71, with a volume of 122041 shares trading hands. The stock had previously closed at $87.18.

Separately, Royal Bank of Canada raised their target price on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th.

Hedge Funds Weigh In On Sylvamo

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after purchasing an additional 138,655 shares during the last quarter. Simplicity Wealth LLC grew its position in shares of Sylvamo by 105.7% during the second quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock worth $974,000 after acquiring an additional 7,291 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Sylvamo during the first quarter worth approximately $586,000. Jupiter Asset Management Ltd. grew its position 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 worth $7,655,000 after acquiring an additional 28,763 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of 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 acquiring an additional 21,026 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Trading Up 2.4 %

The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05. The firm has a market capitalization of $3.49 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 4.60 and a beta of 1.07. The business’s 50-day moving average price is $75.21 and its 200-day moving average price is $68.83.

Sylvamo (NYSE:SLVM) last announced its earnings results 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 business had revenue of $933.00 million for the quarter, compared to analyst estimates of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. As a group, analysts expect that Sylvamo Co. will post 7.4 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, October 3rd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, October 3rd. Sylvamo’s dividend payout ratio is presently 38.38%.

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.