Sylvamo (NYSE:SLVM) Hits New 52-Week Low - Here's Why

Sylvamo Co. (NYSE:SLVM - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $51.55 and last traded at $52.02, with a volume of 23276 shares traded. The stock had previously closed at $52.97.

Analysts Set New Price Targets

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 Stock Performance

The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 2.23 and a beta of 1.07. The stock's 50 day moving average price is $58.02 and its 200 day moving average price is $70.87.

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

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 8th will be issued a dividend of $0.45 per share. 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 3.35%. Sylvamo's dividend payout ratio (DPR) is 26.32%.

Insider Activity

In other news, CEO Jeanmichel Ribieras sold 21,250 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $65.53, for a total transaction of $1,392,512.50. Following the completion of the transaction, the chief executive officer now directly owns 153,144 shares in the company, valued at approximately $10,035,526.32. The trade was a 12.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.74% of the company's stock.

Institutional Trading of Sylvamo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Sylvamo by 39.7% in the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company's stock valued at $93,045,000 after purchasing an additional 334,792 shares during the period. Vanguard Group Inc. lifted its stake in Sylvamo by 5.2% in the first quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company's stock valued at $200,843,000 after acquiring an additional 149,326 shares during the last quarter. American Century Companies Inc. boosted its holdings in Sylvamo by 15.2% in the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company's stock worth $80,289,000 after purchasing an additional 134,066 shares in the last quarter. Victory Capital Management Inc. raised 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 acquiring an additional 129,916 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Sylvamo by 248.4% in the first quarter. Jane Street Group LLC now owns 174,648 shares of the company's stock worth $11,714,000 after buying an additional 124,521 shares during the last quarter. Institutional investors own 91.16% of the company's stock.

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.