Sylvamo (NYSE:SLVM) Hits New 1-Year Low - Here's What Happened

Sylvamo Corporation (NYSE:SLVM - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $49.72 and last traded at $50.67, with a volume of 279747 shares changing hands. The stock had previously closed at $50.11.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLVM. Royal Bank Of Canada decreased their target price on Sylvamo from $70.00 to $61.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Bank of America cut their price objective on shares of Sylvamo from $67.00 to $64.00 and set an "underperform" rating on the stock in a report on Wednesday, July 9th.

Sylvamo Stock Down 3.3%

The company has a current ratio of 1.64, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.99 billion, a PE ratio of 7.14, a PEG ratio of 1.99 and a beta of 1.01. The firm has a 50 day moving average price of $52.82 and a 200-day moving average price of $63.47.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The firm had revenue of $821.00 million for the quarter, compared to analyst estimates of $819.61 million. Sylvamo had a return on equity of 32.60% and a net margin of 7.71%. The company's quarterly revenue was down 9.3% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. Research analysts forecast that Sylvamo Corporation will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Investors 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 3.68%. Sylvamo's dividend payout ratio (DPR) is presently 26.32%.

Hedge Funds Weigh In On Sylvamo

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in Sylvamo by 1.6% in the first quarter. Principal Financial Group Inc. now owns 185,620 shares of the company's stock valued at $12,450,000 after purchasing an additional 2,958 shares during the last quarter. CWA Asset Management Group LLC boosted its position in shares of Sylvamo by 27.3% in the first quarter. CWA Asset Management Group LLC now owns 6,236 shares of the company's stock worth $418,000 after buying an additional 1,336 shares during the period. Deutsche Bank AG boosted its holdings in Sylvamo by 48.0% in the fourth quarter. Deutsche Bank AG now owns 31,474 shares of the company's stock valued at $2,487,000 after purchasing an additional 10,204 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Sylvamo in the fourth quarter valued at about $372,000. Finally, Bank of Montreal Can boosted its holdings in Sylvamo by 10.3% in the fourth quarter. Bank of Montreal Can now owns 6,304 shares of the company's stock valued at $498,000 after purchasing an additional 587 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

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.