Sylvamo (NYSE:SLVM) Reaches New 12-Month Low Following Weak Earnings

Shares of Sylvamo Co. (NYSE:SLVM - Get Free Report) hit a new 52-week low during mid-day trading on Saturday following a weaker than expected earnings announcement. The stock traded as low as $51.60 and last traded at $52.72, with a volume of 751467 shares. The stock had previously closed at $60.20.

The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $821.00 million for the quarter, compared to analysts' expectations of $819.61 million. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. The business's quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 earnings per share.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 3.21%. Sylvamo's dividend payout ratio is presently 26.32%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada dropped their price objective on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating on the stock in a report on Monday.

Insider Activity at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the completion of the sale, the chief executive officer now owns 131,894 shares in the company, valued at approximately $8,591,575.16. This trade represents a 13.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Sylvamo

A number of hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in shares of Sylvamo by 224.6% in the 4th quarter. Blue Trust Inc. now owns 11,284 shares of the company's stock valued at $969,000 after buying an additional 7,808 shares during the period. Barclays PLC increased its stake in shares of Sylvamo by 324.6% in the 3rd quarter. Barclays PLC now owns 62,435 shares of the company's stock valued at $5,360,000 after buying an additional 47,730 shares during the period. Bank of Montreal Can increased its stake in shares of Sylvamo by 10.3% in the 4th quarter. Bank of Montreal Can now owns 6,304 shares of the company's stock valued at $498,000 after buying an additional 587 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Sylvamo by 7.0% in the 4th quarter. Handelsbanken Fonder AB now owns 4,600 shares of the company's stock valued at $363,000 after buying an additional 300 shares during the period. Finally, Foster & Motley Inc. increased its stake in shares of Sylvamo by 108.5% in the 4th quarter. Foster & Motley Inc. now owns 23,850 shares of the company's stock valued at $1,885,000 after buying an additional 12,411 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Price Performance

The company has a 50 day moving average price of $61.63 and a 200 day moving average price of $74.49. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 2.23 and a beta of 1.18. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92.

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.