Sylvamo Co. (NYSE:SLVM) Short Interest Down 30.7% in March

Sylvamo Co. (NYSE:SLVMGet Rating) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 983,700 shares, a drop of 30.7% from the March 15th total of 1,420,000 shares. Based on an average trading volume of 496,900 shares, the days-to-cover ratio is currently 2.0 days. Approximately 3.0% of the company’s stock are short sold.

SLVM has been the subject of several recent analyst reports. Zacks Investment Research downgraded Sylvamo from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada raised Sylvamo from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $43.00 in a report on Thursday, April 7th. Finally, Bank of America initiated coverage on Sylvamo in a report on Friday, March 25th. They issued a “neutral” rating for the company.

Sylvamo stock traded down $0.49 during mid-day trading on Friday, hitting $36.83. 322,444 shares of the company’s stock traded hands, compared to its average volume of 460,291. The company has a 50 day moving average of $35.25. Sylvamo has a fifty-two week low of $23.10 and a fifty-two week high of $40.04. The company has a debt-to-equity ratio of 7.46, a current ratio of 1.46 and a quick ratio of 1.01.

Sylvamo (NYSE:SLVMGet Rating) last announced its quarterly earnings results on Friday, February 11th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.38. The business had revenue of $972.00 million for the quarter. As a group, equities analysts anticipate that Sylvamo will post 7 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in SLVM. Accel Wealth Management acquired a new stake in Sylvamo during the 4th quarter valued at $25,000. Tarbox Family Office Inc. acquired a new stake in shares of Sylvamo during the fourth quarter worth $26,000. Bessemer Group Inc. acquired a new stake in shares of Sylvamo during the fourth quarter worth $32,000. UMB Bank N A MO acquired a new stake in shares of Sylvamo during the fourth quarter worth $38,000. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Sylvamo during the third quarter worth $42,000. 17.99% of the stock is owned by institutional investors and hedge funds.

Sylvamo Company Profile (Get Rating)

Sylvamo Corporation produces and supplies printing paper in Latin America, Europe, and North America. The company offers uncoated freesheet for paper products, such as cutsize and offset paper; and markets pulp, aseptic, and liquid packaging board, as well as coated unbleached kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft; and bleached chemi-thermomechanical pulp.

Further Reading

Receive News & Ratings for Sylvamo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sylvamo and related companies with MarketBeat.com's FREE daily email newsletter.