Sylvamo (NYSE:SLVM) Coverage Initiated at Sidoti

Sidoti began coverage on shares of Sylvamo (NYSE:SLVM) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $100.00 price target on the stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada upped their price objective on Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a research note on Monday, August 12th. Bank of America upped their price target on Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd.

Sylvamo Stock Performance

Shares of NYSE SLVM opened at $86.20 on Tuesday. Sylvamo has a one year low of $41.47 and a one year high of $88.42. 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 business has a fifty day simple moving average of $79.87 and a 200 day simple moving average of $71.76. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 4.97 and a beta of 1.08.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.40. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The company had revenue of $933.00 million during the quarter, compared to analysts’ expectations of $937.56 million. During the same quarter in the prior year, the company posted $1.14 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that Sylvamo will post 7.4 EPS for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.09%. Sylvamo’s dividend payout ratio (DPR) is presently 38.38%.

Institutional Trading of Sylvamo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in Sylvamo by 324.9% during the 3rd quarter. Blue Trust Inc. now owns 3,476 shares of the company’s stock worth $298,000 after acquiring an additional 2,658 shares during the last quarter. Creative Planning lifted its position in shares of Sylvamo by 430.8% during the third quarter. Creative Planning now owns 41,017 shares of the company’s stock worth $3,521,000 after purchasing an additional 33,289 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Sylvamo by 6.1% during the third quarter. Wedge Capital Management L L P NC now owns 19,352 shares of the company’s stock valued at $1,661,000 after purchasing an additional 1,120 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Sylvamo in the 3rd quarter worth approximately $1,502,000. Finally, Inspire Investing LLC bought a new position in Sylvamo in the 3rd quarter worth approximately $2,391,000. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Company Profile

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.