Sylvamo Co. (NYSE:SLVM) CEO Jeanmichel Ribieras Sells 21,250 Shares

Sylvamo Co. (NYSE:SLVM) CEO Jeanmichel Ribieras sold 21,250 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $65.53, for a total transaction of $1,392,512.50. Following the completion of the sale, the chief executive officer now owns 153,144 shares in the company, valued at $10,035,526.32. This represents a 12.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sylvamo Stock Down 2.8 %

Shares of Sylvamo stock traded down $1.87 during trading on Wednesday, reaching $64.93. 383,265 shares of the company traded hands, compared to its average volume of 309,720. The firm has a market capitalization of $2.63 billion, a PE ratio of 9.01, a P/E/G ratio of 2.23 and a beta of 1.15. Sylvamo Co. has a 1-year low of $56.20 and a 1-year high of $98.02. The company has a 50 day moving average price of $75.03 and a 200-day moving average price of $81.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. As a group, equities research analysts expect that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Tuesday, April 8th. Sylvamo’s dividend payout ratio (DPR) is currently 24.97%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SLVM. Royal Bank of Canada dropped their price target on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Bank of America reissued an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a research note on Wednesday, December 11th.

Institutional Investors Weigh In On Sylvamo

Hedge funds have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new position in shares of Sylvamo during the third quarter worth approximately $346,000. Assetmark Inc. increased its stake in Sylvamo by 9.3% during the 3rd quarter. Assetmark Inc. now owns 25,966 shares of the company’s stock valued at $2,229,000 after purchasing an additional 2,213 shares in the last quarter. Sigma Planning Corp raised its holdings in Sylvamo by 6.9% during the third quarter. Sigma Planning Corp now owns 7,550 shares of the company’s stock worth $648,000 after buying an additional 488 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Sylvamo in the third quarter valued at $222,000. Finally, Versor Investments LP bought a new position in shares of Sylvamo in the third quarter valued at $230,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

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.