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Sylvamo (NYSE:SLVM) shares rise 3%


The shares of Sylvamo Co. (NYSE:SLVM – Get a Free Report) rose 3% on Friday. The company was trading at $58.57 and last traded at $58.56. About 17,329 shares changed hands during trading, a 95% decline from the average daily volume of 353,197 shares. The stock previously closed at $56.87.

Wall Street analysts predict growth

Additionally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target (up from $45.00) on shares of Sylvamo in a research report on Monday, February 26.

Check out our latest stock report on Sylvamo

Sylvamo stock performance

The company has a debt-to-equity ratio of 1.03, a current ratio of 1.72 and a quick ratio of 1.14. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 9.88, a price-to-earnings ratio of 0.33, and a beta of 1.10. The company has a fifty day simple moving average of $58.72 and a two hundred day simple moving average of $51.22.

Sylvamo (NYSE:SLVM – Get Free Report) posted its latest quarterly results on Thursday, February 15. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.34. The company had revenue of $964.00 million during the quarter, compared to the consensus estimate of $903.72 million. Sylvamo had a return on equity of 32.81% and a net margin of 6.77%. The company’s quarterly revenue rose 4.0% year over year. In the same quarter last year, the company posted earnings per share of $1.97. On average, analysts expect Sylvamo Co. will post earnings per share of 5.75 for the current year.

Dividend announcement from Sylvamo

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29. Shareholders of record on Monday, April 8 will receive a $0.30 dividend. This represents a dividend of $1.20 annually and a dividend yield of 2.05%. The ex-dividend date is Friday, April 5. Sylvamo’s payout ratio is 20.27%.

Insider transactions at Sylvamo

In other news, CEO Jeanmichel Ribieras sold 12,226 shares of the company’s stock in a transaction dated Monday, March 11th. The stock sold at an average price of $62.94, for a total value of $769,504.44. Following the completion of the transaction, the CEO now directly owns 144,501 shares of the company’s stock, valued at $9,094,892.94. The sale was disclosed in a document filed with the SEC and available on the SEC website. In related news, CEO Jeanmichel Ribieras sold 12,226 shares of Sylvamo stock in a transaction that took place on Monday, March 11. The stock sold at an average price of $62.94, for a total transaction of $769,504.44. Following the completion of the transaction, the CEO now directly owns 144,501 shares of the company’s stock, valued at $9,094,892.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Peggy Maes sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 11. The stock sold at an average price of $63.20, for a total value of $94,800.00. Following the transaction, the senior vice president now directly owns 11,249 shares of the company’s stock, valued at $710,936.80. The explanation of this sale can be found here. Insiders have sold a total of 26,951 shares of the company worth $1,618,664 in the last three months. Currently, 0.75% of the shares are owned by insiders.

Institutional trading in Sylvamo

Several major investors have recently made changes to their positions in SLVM. JPMorgan Chase & Co. increased its position in Sylvamo shares by 202.9% during the first quarter. JPMorgan Chase & Co. now owns 87,208 shares of the company’s stock worth $2,902,000 after purchasing an additional 58,413 shares in the last quarter. American Century Companies Inc. bought a new stake in Sylvamo worth $299,000 in the first quarter. Citigroup Inc. expanded its stake in Sylvamo by 18.7% in the first quarter. Citigroup Inc. now owns 34,363 shares of the company’s stock, valued at $1,144,000, after purchasing an additional 5,412 shares in the last quarter. Rhumbline Advisers increased its stake in Sylvamo by 4.1% in the first quarter. Rhumbline Advisers now owns 84,128 shares of the company’s stock valued at $2,800,000 after purchasing an additional 3,347 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Sylvamo by 14.1% in the first quarter. Empls Retrmt SYS of Commonwealth of Pennsylvania Public School now owns 30,418 shares of the company’s stock valued at $1,012,000 after purchasing an additional 3,749 shares in the last quarter. 91.16% of the shares are currently owned by hedge funds and other institutional investors.

Sylvamo company profile

(Get a free report)

Sylvamo Corporation produces and sells uncoated free-sheet cutsize, offset paper and pulp in Latin America, Europe and North America. The company is active in the Europe, Latin America and North America segments. The European segment offers copy, colored and colored laser printing papers under the REY Adagio and Pro-Design brands; and graphic and high-speed inkjet paper under the Jetstar brand; and also produces uncoated freesheet paper.

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