Sylvamo (NYSE:SLVM) Hits New 1-Year High at $66.83

Sylvamo Co. (NYSE:SLVM - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $66.83 and last traded at $66.55, with a volume of 10573 shares traded. The stock had previously closed at $66.17.

Wall Street Analysts Forecast Growth

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

Sylvamo Stock Performance

The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.35 and a beta of 1.08. The firm has a 50 day moving average price of $61.01 and a 200-day moving average price of $53.01. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.72 and a quick ratio of 1.14.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.34. Sylvamo had a return on equity of 32.81% and a net margin of 6.77%. The business had revenue of $964.00 million during the quarter, compared to the consensus estimate of $903.72 million. During the same period in the previous year, the company posted $1.97 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts expect that Sylvamo Co. will post 6.15 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Monday, April 8th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. Sylvamo's payout ratio is currently 20.27%.

Insider Buying and Selling at Sylvamo

In other Sylvamo news, SVP Peggy Maes sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total value of $55,090.00. Following the transaction, the senior vice president now directly owns 10,535 shares in the company, valued at $580,373.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jeanmichel Ribieras sold 12,225 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $57.20, for a total transaction of $699,270.00. Following the transaction, the chief executive officer now owns 132,276 shares in the company, valued at approximately $7,566,187.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Peggy Maes sold 1,000 shares of Sylvamo stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $55.09, for a total value of $55,090.00. Following the transaction, the senior vice president now directly owns 10,535 shares in the company, valued at approximately $580,373.15. The disclosure for this sale can be found here. Insiders have sold a total of 26,951 shares of company stock worth $1,618,664 over the last ninety days. Corporate insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Sylvamo

A number of hedge funds have recently modified their holdings of SLVM. SummerHaven Investment Management LLC boosted its stake in Sylvamo by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 16,563 shares of the company's stock worth $813,000 after purchasing an additional 233 shares during the period. Donoghue Forlines LLC raised its holdings in shares of Sylvamo by 4.0% in the fourth quarter. Donoghue Forlines LLC now owns 7,135 shares of the company's stock valued at $350,000 after buying an additional 275 shares during the last quarter. Vise Technologies Inc. boosted its stake in shares of Sylvamo by 2.4% during the fourth quarter. Vise Technologies Inc. now owns 13,210 shares of the company's stock worth $649,000 after buying an additional 312 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of Sylvamo by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company's stock worth $1,909,000 after buying an additional 400 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Sylvamo by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,211 shares of the company's stock valued at $445,000 after acquiring an additional 497 shares during the period. 91.16% of the stock is currently owned by hedge funds and other 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.