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

Sylvamo Co. (NYSE:SLVM - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $56.00 to $63.00. Royal Bank of Canada currently has a sector perform rating on the stock. Sylvamo traded as high as $69.46 and last traded at $68.67, with a volume of 50696 shares. The stock had previously closed at $68.03.

Insiders Place Their Bets

In other Sylvamo news, SVP Peggy Maes sold 1,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total transaction of $55,090.00. Following the completion of the transaction, the senior vice president now owns 10,535 shares of the company's stock, valued at $580,373.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Peggy Maes sold 1,000 shares of Sylvamo stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total transaction of $55,090.00. Following the sale, the senior vice president now directly owns 10,535 shares in the company, valued at approximately $580,373.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeanmichel Ribieras sold 12,225 shares of the firm's stock in a transaction 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 directly owns 132,276 shares in the company, valued at $7,566,187.20. The disclosure for this sale can be found here. Insiders sold 26,951 shares of company stock valued at $1,618,664 in the last three months. 0.75% of the stock is currently owned by insiders.

Institutional Trading of Sylvamo

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management boosted its holdings in Sylvamo by 170.2% during the third quarter. Hollencrest Capital Management now owns 981 shares of the company's stock worth $43,000 after buying an additional 618 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Sylvamo during the first quarter worth about $217,000. Mackenzie Financial Corp acquired a new position in Sylvamo during the fourth quarter worth about $219,000. Clearbridge Investments LLC acquired a new position in Sylvamo during the first quarter worth about $223,000. Finally, Gallacher Capital Management LLC acquired a new position in Sylvamo during the third quarter worth about $261,000. Hedge funds and other institutional investors own 91.16% of the company's stock.

Sylvamo Trading Up 2.5 %

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.09. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.35 and a beta of 1.08. The business's 50-day simple moving average is $61.43 and its 200-day simple moving average is $53.69.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its earnings results on Friday, May 10th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.02. The company had revenue of $905.00 million during the quarter, compared to analysts' expectations of $864.38 million. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.51 earnings per share. Research analysts predict 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 $0.30 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.72%. Sylvamo's dividend payout ratio (DPR) is presently 25.59%.

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.