Sylvamo (NYSE:SLVM) Stock Gets Price Target Reduction from Bank of America

Sylvamo (NYSE:SLVM) had its target price reduced by Bank of America from $45.00 to $42.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on SLVM. Wells Fargo & Company initiated coverage on Sylvamo in a report on Wednesday, September 16th. They set an “overweight” rating and a $47.00 price target on the stock. Zacks Research raised Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a report on Friday, August 7th. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Truist Financial reduced their price objective on Sylvamo from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.00.

Sylvamo Stock Up 1.3%

Shares of Sylvamo stock opened at $32.79 on Wednesday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. The company’s 50 day moving average is $35.42 and its 200 day moving average is $38.33. Sylvamo has a twelve month low of $30.40 and a twelve month high of $56.80. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Sylvamo had a net margin of 2.31% and a return on equity of 8.36%. The company had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $811.25 million. During the same quarter last year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts anticipate that Sylvamo will post 1.32 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.5%. Sylvamo’s dividend payout ratio (DPR) is presently 95.74%.

Institutional Trading of Sylvamo

Several large investors have recently added to or reduced their stakes in SLVM. Rokos Capital Management LLP bought a new position in Sylvamo in the first quarter worth approximately $10,802,000. Bank of America Corp DE grew its position in shares of Sylvamo by 81.6% during the 1st quarter. Bank of America Corp DE now owns 224,199 shares of the company’s stock valued at $9,470,000 after acquiring an additional 100,746 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sylvamo by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after acquiring an additional 72,177 shares during the period. State Street Corp grew its position in shares of Sylvamo by 5.2% during the 2nd quarter. State Street Corp now owns 1,389,749 shares of the company’s stock valued at $52,533,000 after acquiring an additional 69,299 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Sylvamo by 15.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock worth $19,132,000 after purchasing an additional 69,195 shares in the last quarter. 91.16% of the stock is currently owned by institutional investors.

Sylvamo Company Profile

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, copying, office applications, and other commercial and industrial purposes. Its portfolio includes cut-size office paper, offset and publishing papers, and specialty paper products sold under brands such as Hammermill, Springhill, and Williamsburg.

Headquartered in Memphis, Tennessee, Sylvamo serves customers through operations and sales networks in North America, Latin America, and Europe.