Sylvamo (NYSE:SLVM) Now Covered by Truist Financial

Truist Financial began coverage on shares of Sylvamo (NYSE:SLVM) in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $54.00 price target on the stock.

A number of other brokerages have also issued reports on SLVM. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $53.00 target price on shares of Sylvamo in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sylvamo in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.33.

Sylvamo Stock Performance

Shares of SLVM stock opened at $41.50 on Monday. Sylvamo has a 12-month low of $37.09 and a 12-month high of $68.42. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.50 and a quick ratio of 0.92. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.47 and a beta of 0.96. The business has a 50 day simple moving average of $46.36 and a 200 day simple moving average of $46.09.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Thursday, February 12th. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.03. The company had revenue of $890.00 million during the quarter, compared to analyst estimates of $858.76 million. Sylvamo had a return on equity of 15.12% and a net margin of 3.94%.The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 EPS. On average, equities research analysts anticipate that Sylvamo will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, April 7th. Sylvamo’s dividend payout ratio (DPR) is 55.21%.

Insider Activity

In other news, SVP Rodrigo Davoli sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $46.46, for a total transaction of $150,995.00. Following the sale, the senior vice president owned 46,484 shares in the company, valued at $2,159,646.64. The trade was a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sylvamo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Sylvamo by 605.9% in the fourth quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock valued at $107,529,000 after purchasing an additional 1,916,829 shares in the last quarter. Jain Global LLC purchased a new position in shares of Sylvamo during the fourth quarter valued at $39,072,000. William Blair Investment Management LLC acquired a new position in Sylvamo during the fourth quarter valued at $33,777,000. Nomura Holdings Inc. boosted its position in Sylvamo by 34.1% during the 3rd quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock worth $95,073,000 after acquiring an additional 546,336 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Sylvamo in the 2nd quarter valued at about $15,030,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

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.