Sylvamo (NYSE:SLVM) Reaches New 52-Week High at $64.44

Sylvamo Co. (NYSE:SLVM - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $64.44 and last traded at $64.08, with a volume of 28221 shares. The stock had previously closed at $62.98.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 target price (up previously from $45.00) on shares of Sylvamo in a research report on Monday, February 26th.

Sylvamo Price Performance

The stock's 50 day simple moving average is $60.52 and its 200-day simple moving average is $52.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.72 and a quick ratio of 1.14. The company has a market capitalization of $2.70 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 0.34 and a beta of 1.08.

Sylvamo (NYSE:SLVM - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.82 by $0.34. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. The company had revenue of $964.00 million during the quarter, compared to analysts' expectations of $903.72 million. During the same quarter last year, the company posted $1.97 EPS. The firm's revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that Sylvamo Co. will post 6.15 earnings per share for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Monday, April 8th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, April 5th. This represents a $1.20 annualized dividend and a yield of 1.84%. Sylvamo's dividend payout ratio (DPR) is 20.27%.

Insider Activity

In related news, CEO Jeanmichel Ribieras sold 12,226 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $62.94, for a total transaction of $769,504.44. Following the sale, the chief executive officer now directly owns 144,501 shares in the company, valued at $9,094,892.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sylvamo news, SVP Peggy Maes sold 1,500 shares of Sylvamo stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $63.20, for a total transaction of $94,800.00. Following the completion of the sale, the senior vice president now directly owns 11,249 shares of the company's stock, valued at approximately $710,936.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeanmichel Ribieras sold 12,226 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $62.94, for a total value of $769,504.44. Following the completion of the transaction, the chief executive officer now owns 144,501 shares in the company, valued at approximately $9,094,892.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,951 shares of company stock worth $1,618,664. 0.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sylvamo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management lifted its position in shares of Sylvamo by 170.2% during the 3rd quarter. Hollencrest Capital Management now owns 981 shares of the company's stock worth $43,000 after buying an additional 618 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Sylvamo in the fourth quarter valued at $219,000. Gallacher Capital Management LLC purchased a new position in shares of Sylvamo during the third quarter worth about $261,000. Donoghue Forlines LLC acquired a new stake in shares of Sylvamo during the third quarter worth about $301,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sylvamo by 28.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,943 shares of the company's stock valued at $305,000 after purchasing an additional 1,522 shares during the last quarter. 91.16% of the stock is 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.