Sylvamo (NYSE:SLVM) Shares Up 3.9%

Sylvamo Co. (NYSE:SLVM)’s stock price shot up 3.9% during trading on Friday . The company traded as high as $85.61 and last traded at $85.29. 305,974 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 306,985 shares. The stock had previously closed at $82.11.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Bank of America reissued a “neutral” rating and issued a $82.00 target price (up previously from $71.00) on shares of Sylvamo in a research note on Monday, August 12th.

Sylvamo Stock Up 5.3 %

The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $3.56 billion, a P/E ratio of 17.51, a P/E/G ratio of 4.60 and a beta of 1.07. The stock’s 50 day simple moving average is $74.54 and its 200 day simple moving average is $68.39.

Sylvamo (NYSE:SLVM) last released its earnings results on Friday, August 9th. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The firm had revenue of $933.00 million for the quarter, compared to analysts’ expectations of $937.56 million. During the same quarter last year, the company earned $1.14 EPS. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts predict that Sylvamo Co. will post 7.4 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is presently 38.38%.

Hedge Funds Weigh In On Sylvamo

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Sylvamo by 7.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,148,534 shares of the company’s stock valued at $56,406,000 after acquiring an additional 79,778 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Sylvamo in the fourth quarter worth $605,000. Norges Bank acquired a new position in shares of Sylvamo in the 4th quarter valued at approximately $10,206,000. Assetmark Inc. raised its holdings in shares of Sylvamo by 5.2% during the fourth quarter. Assetmark Inc. now owns 43,063 shares of the company’s stock worth $2,115,000 after acquiring an additional 2,114 shares during the period. Finally, Chesapeake Capital Corp IL acquired a new stake in shares of Sylvamo in the fourth quarter valued at approximately $969,000. Institutional investors and hedge funds 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.