Truist Financial Cuts Sylvamo (NYSE:SLVM) Price Target to $51.00

Sylvamo (NYSE:SLVM) had its target price trimmed by Truist Financial from $54.00 to $51.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also commented on SLVM. Bank of America restated a “neutral” rating and set a $45.00 price target on shares of Sylvamo in a research note on Tuesday. Zacks Research upgraded Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada dropped their target price on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a research report on Monday, May 11th. Finally, Weiss Ratings lowered shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Sylvamo currently has an average rating of “Reduce” and an average price target of $47.33.

Sylvamo Stock Down 3.1%

Shares of SLVM opened at $38.34 on Wednesday. Sylvamo has a fifty-two week low of $35.53 and a fifty-two week high of $56.80. The company’s fifty day moving average is $38.92 and its two-hundred day moving average is $43.40. The firm has a market cap of $1.52 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.88 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 1.45 and a debt-to-equity ratio of 0.78.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. Analysts forecast that Sylvamo will post 2.2 earnings per share for the current year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.80 annualized dividend and a yield of 4.7%. Sylvamo’s dividend payout ratio (DPR) is 71.15%.

Insider Buying and Selling

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $41.70, for a total transaction of $51,291.00. Following the transaction, the director owned 14,475 shares in the company, valued at $603,607.50. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sylvamo

Large investors have recently modified their holdings of the stock. UMB Bank n.a. lifted its position in Sylvamo by 171.2% during the 4th quarter. UMB Bank n.a. now owns 564 shares of the company’s stock worth $27,000 after acquiring an additional 356 shares in the last quarter. GAMMA Investing LLC grew its position in Sylvamo by 222.8% in the fourth quarter. GAMMA Investing LLC now owns 765 shares of the company’s stock valued at $37,000 after acquiring an additional 528 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Sylvamo during the fourth quarter valued at approximately $38,000. Farther Finance Advisors LLC raised its stake in shares of Sylvamo by 162.7% during the fourth quarter. Farther Finance Advisors LLC now owns 838 shares of the company’s stock valued at $40,000 after purchasing an additional 519 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Sylvamo during the third quarter worth $38,000. Institutional investors and hedge funds own 91.16% of the company’s stock.

About Sylvamo

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.