Sylvamo (NYSE:SLVM) Stock Price Down 9.7% – Time to Sell?

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

Analyst Upgrades and Downgrades

SLVM has been the subject of several analyst reports. Sidoti started coverage on Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price for the company. Bank of America restated an “underperform” rating and set a $96.00 price target on shares of Sylvamo in a report on Wednesday, December 11th.

Sylvamo Stock Down 10.8 %

The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average of $81.11 and a two-hundred day moving average of $81.61.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (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%. As a group, sell-side analysts anticipate that Sylvamo Co. will post 7.15 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Monday, January 6th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Monday, January 6th. Sylvamo’s dividend payout ratio (DPR) is currently 27.99%.

Institutional Trading of Sylvamo

Several hedge funds and other institutional investors have recently modified their holdings of SLVM. GAMMA Investing LLC increased its position in Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after purchasing an additional 171 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Sylvamo by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock valued at $58,000 after buying an additional 214 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Sylvamo by 12.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,010 shares of the company’s stock worth $159,000 after buying an additional 218 shares during the last quarter. Fortitude Family Office LLC raised its position in Sylvamo by 116.6% during 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. Finally, Wedmont Private Capital lifted its stake in Sylvamo by 7.9% in the fourth quarter. Wedmont Private Capital now owns 3,726 shares of the company’s stock valued at $281,000 after acquiring an additional 273 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

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.