Sylvamo (NYSE:SLVM) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sylvamo (NYSE:SLVM) to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

A number of other analysts have also weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $49.00 price objective (down from $51.00) on shares of Sylvamo in a research note on Monday, August 10th. Zacks Research downgraded shares of Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a report on Friday, August 7th. Bank of America reaffirmed a “neutral” rating and set a $45.00 price target on shares of Sylvamo in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada reduced their price objective on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Sylvamo presently has an average rating of “Hold” and a consensus target price of $46.75.

Sylvamo Price Performance

Shares of NYSE SLVM opened at $35.97 on Wednesday. The business’s 50 day moving average price is $37.38 and its 200 day moving average price is $39.60. The firm has a market cap of $1.43 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.25 and a beta of 0.86. Sylvamo has a 52 week low of $34.25 and a 52 week 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 quarterly earnings results on Friday, August 7th. The company reported $0.03 earnings per share 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 the consensus estimate of $811.25 million. During the same quarter in the prior year, the company earned $0.37 EPS. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts expect that Sylvamo will post 1.53 earnings per share for the current year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.0%. Sylvamo’s dividend payout ratio (DPR) is presently 95.74%.

Hedge Funds Weigh In On Sylvamo

Several institutional investors have recently made changes to their positions in SLVM. Nykredit A S purchased a new stake in Sylvamo during the second quarter worth $33,000. Hantz Financial Services Inc. increased its holdings in Sylvamo by 46.5% in the fourth quarter. Hantz Financial Services Inc. now owns 1,720 shares of the company’s stock valued at $83,000 after buying an additional 546 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Sylvamo in the second quarter valued at $68,000. Versant Capital Management Inc raised its position in shares of Sylvamo by 378.3% in the second quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock worth $100,000 after acquiring an additional 2,092 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Sylvamo by 20,271.4% in the fourth quarter. Larson Financial Group LLC now owns 2,852 shares of the company’s stock worth $137,000 after acquiring an additional 2,838 shares during the period. 91.16% of the stock is owned by hedge funds and other 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, education, office applications, books, envelopes and other everyday communications. Its portfolio includes consumer and business paper brands such as Hammermill, along with products sold under regional and private-label brands.

Sylvamo serves customers through operations and distribution networks in North America, Latin America and Europe. Its products are sold to merchants, retailers, businesses, publishers, printers and other commercial customers.