Sylvamo (NYSE:SLVM) Reaches New 52-Week High at $74.75

Sylvamo Co. (NYSE:SLVM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $74.75 and last traded at $74.40, with a volume of 66207 shares traded. The stock had previously closed at $72.05.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised their target price on shares of Sylvamo from $56.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, May 13th.

Sylvamo Stock Up 2.8 %

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.72 and a quick ratio of 1.09. The stock’s fifty day simple moving average is $69.90 and its 200-day simple moving average is $61.63. The stock has a market cap of $3.11 billion, a P/E ratio of 16.11, a PEG ratio of 0.36 and a beta of 1.07.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, May 10th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.02. The firm had revenue of $905.00 million for the quarter, compared to analysts’ expectations of $864.38 million. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. Sylvamo’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $2.51 earnings per share. On average, research analysts anticipate that Sylvamo Co. will post 6.9 earnings per share for the current year.

Sylvamo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Monday, July 8th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, July 8th. This is a boost from Sylvamo’s previous quarterly dividend of $0.30. Sylvamo’s payout ratio is 38.38%.

Institutional Investors Weigh In On Sylvamo

A number of hedge funds have recently made changes to their positions in SLVM. SG Americas Securities LLC bought a new stake in shares of Sylvamo during the second quarter valued at approximately $62,101,000. Norges Bank bought a new stake in shares of Sylvamo during the fourth quarter valued at approximately $10,206,000. Vanguard Group Inc. raised its holdings in shares of Sylvamo by 5.2% during the first quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock valued at $174,771,000 after buying an additional 138,655 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Sylvamo by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock worth $56,406,000 after purchasing an additional 79,778 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Sylvamo by 41.4% during the fourth quarter. Victory Capital Management Inc. now owns 253,358 shares of the company’s stock worth $12,442,000 after purchasing an additional 74,140 shares in the last quarter. Institutional investors own 91.16% of the company’s stock.

About Sylvamo

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.