Sylvamo (NYSE:SLVM) Sets New 1-Year High - Here's What Happened

Shares of Sylvamo Co. (NYSE:SLVM - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $88.46 and last traded at $88.00, with a volume of 95360 shares trading hands. The stock had previously closed at $85.35.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America raised their target price on Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. Royal Bank of Canada boosted their target price on shares of Sylvamo from $63.00 to $71.00 and gave the company a "sector perform" rating in a research note on Monday, August 12th. Finally, Sidoti began coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They set a "buy" rating and a $100.00 price target on the stock.

Sylvamo Stock Up 3.0 %

The firm's 50 day simple moving average is $81.70 and its 200-day simple moving average is $73.93. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 4.54 and a beta of 1.08. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.68 and a quick ratio of 1.05.

Sylvamo (NYSE:SLVM - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.40. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The firm had revenue of $933.00 million for the quarter, compared to the consensus estimate of $937.56 million. During the same quarter last year, the business posted $1.14 EPS. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sylvamo Co. will post 7.4 earnings per share for the current year.

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 annualized dividend and a dividend yield of 2.05%. Sylvamo's payout ratio is 32.55%.

Institutional Trading of Sylvamo

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its stake in Sylvamo by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 5,666 shares of the company's stock valued at $389,000 after buying an additional 154 shares during the period. CWM LLC raised its holdings in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company's stock valued at $28,000 after acquiring an additional 157 shares during the period. GAMMA Investing LLC lifted its position in shares of Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company's stock valued at $40,000 after acquiring an additional 171 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Sylvamo by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 16,976 shares of the company's stock worth $1,165,000 after purchasing an additional 216 shares during the period. Finally, Fortitude Family Office LLC raised its stake in Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company's stock valued at $38,000 after purchasing an additional 239 shares during the period. 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.

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