Sylvamo (NYSE:SLVM) Reaches New 12-Month Low - Here's What Happened

Sylvamo Co. (NYSE:SLVM - Get Free Report)'s stock price hit a new 52-week low on Friday . The company traded as low as $50.83 and last traded at $51.60, with a volume of 41033 shares changing hands. The stock had previously closed at $52.71.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada dropped their price target on shares of Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th.

Sylvamo Trading Up 1.4%

The firm has a market capitalization of $2.09 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. The firm has a 50 day moving average price of $56.84 and a two-hundred day moving average price of $68.71.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $819.61 million. During the same period in the prior year, the firm earned $1.07 EPS. Sylvamo's quarterly revenue was down 9.3% on a year-over-year basis. On average, equities research analysts expect that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.50%. Sylvamo's payout ratio is presently 26.32%.

Hedge Funds Weigh In On Sylvamo

A number of institutional investors have recently made changes to their positions in SLVM. First Trust Advisors LP increased its stake in shares of Sylvamo by 39.7% in the fourth quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock worth $93,045,000 after purchasing an additional 334,792 shares during the period. Vanguard Group Inc. grew its stake in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock valued at $200,843,000 after purchasing an additional 149,326 shares during the period. American Century Companies Inc. grew its stake in shares of Sylvamo by 15.2% in the 4th quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock valued at $80,289,000 after purchasing an additional 134,066 shares during the period. Victory Capital Management Inc. grew its stake in shares of Sylvamo by 351.8% in the 1st quarter. Victory Capital Management Inc. now owns 166,844 shares of the company's stock valued at $11,190,000 after purchasing an additional 129,916 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Sylvamo by 248.4% in the 1st quarter. Jane Street Group LLC now owns 174,648 shares of the company's stock valued at $11,714,000 after purchasing an additional 124,521 shares during the period. 91.16% of the stock is currently owned by 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.