Sylvamo (NYSE:SLVM) Sees Strong Trading Volume

Sylvamo Co. (NYSE:SLVM) saw unusually-strong trading volume on Monday . Approximately 851,794 shares were traded during trading, an increase of 147% from the previous session’s volume of 344,493 shares.The stock last traded at $69.12 and had previously closed at $68.60.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upped 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 Performance

The business has a fifty day simple moving average of $68.13 and a 200-day simple moving average of $58.94. The firm has a market cap of $2.80 billion, a P/E ratio of 14.63, a P/E/G ratio of 0.34 and a beta of 1.07. The company has a quick ratio of 1.09, a current ratio of 1.72 and a debt-to-equity ratio of 1.04.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, May 10th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.05 by $0.02. Sylvamo had a net margin of 5.40% and a return on equity of 24.67%. The company had revenue of $905.00 million for the quarter, compared to the consensus estimate of $864.38 million. During the same period in the prior year, the firm posted $2.51 EPS. Sylvamo’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts predict that Sylvamo Co. will post 6.75 EPS for the current fiscal 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 paid a $0.45 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.64%. This is a boost from Sylvamo’s previous quarterly dividend of $0.30. Sylvamo’s payout ratio is currently 25.59%.

Institutional Trading of Sylvamo

A number of large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in shares of Sylvamo by 4,871.5% during the 4th quarter. International Assets Investment Management LLC now owns 30,923 shares of the company’s stock valued at $1,519,000 after purchasing an additional 30,301 shares during the period. Allianz Asset Management GmbH boosted its stake in Sylvamo by 15.2% during the fourth quarter. Allianz Asset Management GmbH now owns 159,189 shares of the company’s stock valued at $7,818,000 after buying an additional 21,026 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Sylvamo during the fourth quarter valued at approximately $2,456,000. Los Angeles Capital Management LLC purchased a new stake in shares of Sylvamo in the first quarter worth approximately $793,000. Finally, Chesapeake Capital Corp IL bought a new stake in shares of Sylvamo during the 4th quarter worth approximately $969,000. 91.16% of the stock is currently owned by institutional investors.

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.