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

Sylvamo Co. (NYSE:SLVM - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $98.02 and last traded at $96.58, with a volume of 12828 shares traded. The stock had previously closed at $95.69.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLVM. Bank of America raised their target price on shares of Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Royal Bank of Canada raised 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 assumed coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They issued a "buy" rating and a $100.00 target price on the stock.

Sylvamo Stock Performance

The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 5.11 and a beta of 1.08. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. The company's fifty day simple moving average is $82.88 and its two-hundred day simple moving average is $74.82.

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

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, October 3rd were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Thursday, October 3rd. Sylvamo's dividend payout ratio (DPR) is presently 32.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Sylvamo by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company's stock worth $174,771,000 after purchasing an additional 138,655 shares in the last quarter. Simplicity Wealth LLC lifted its position in shares of Sylvamo by 105.7% in the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company's stock valued at $974,000 after acquiring an additional 7,291 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Sylvamo in the 1st quarter valued at approximately $586,000. Jupiter Asset Management Ltd. lifted its position in shares of Sylvamo by 30.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 123,993 shares of the company's stock valued at $7,655,000 after acquiring an additional 28,763 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Sylvamo by 33.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,156 shares of the company's stock valued at $2,104,000 after buying an additional 8,503 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

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.