Sylvamo (NYSE:SLVM) Trading Down 5% – Here’s What Happened

Sylvamo Corporation (NYSE:SLVM)’s stock price was down 5% on Tuesday . The company traded as low as $36.87 and last traded at $37.3020. 47,574 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 345,622 shares. The stock had previously closed at $39.28.

Analysts Set New Price Targets

SLVM has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Sylvamo from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Truist Financial cut their target price on Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. Royal Bank Of Canada decreased their price target on Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a research note on Monday, May 11th. Weiss Ratings cut Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Bank of America reissued a “neutral” rating and issued a $45.00 price objective on shares of Sylvamo in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sylvamo currently has an average rating of “Hold” and an average price target of $48.33.

Sylvamo Stock Performance

The company’s 50-day moving average price is $39.05 and its two-hundred day moving average price is $43.50. The company has a market cap of $1.50 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.87. The company has a current ratio of 1.45, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78.

Sylvamo (NYSE:SLVM) last released its earnings results on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.28). The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $740.85 million. Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. As a group, equities analysts forecast that Sylvamo Corporation will post 2.25 earnings per share for the current year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.8%. Sylvamo’s dividend payout ratio is currently 71.15%.

Insider Activity at Sylvamo

In other news, Director Lizanne M. Bruce sold 1,230 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $41.70, for a total transaction of $51,291.00. Following the completion of the sale, the director directly owned 14,475 shares of the company’s stock, valued at $603,607.50. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Sylvamo

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Sylvamo by 49.4% during the 1st quarter. Royal Bank of Canada now owns 22,853 shares of the company’s stock worth $1,532,000 after buying an additional 7,556 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sylvamo by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,690 shares of the company’s stock worth $1,388,000 after buying an additional 893 shares during the period. Empowered Funds LLC boosted its holdings in shares of Sylvamo by 16.9% in the first quarter. Empowered Funds LLC now owns 17,730 shares of the company’s stock worth $1,189,000 after buying an additional 2,557 shares during the period. Intech Investment Management LLC raised its holdings in shares of Sylvamo by 25.9% during the first quarter. Intech Investment Management LLC now owns 18,140 shares of the company’s stock valued at $1,217,000 after acquiring an additional 3,727 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Sylvamo by 23.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,621 shares of the company’s stock valued at $1,234,000 after acquiring an additional 4,613 shares in the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.