Sylvamo Co. (NYSE:SLVM) to Issue $0.11 Quarterly Dividend

Sylvamo Co. (NYSE:SLVMGet Rating) announced a quarterly dividend on Tuesday, September 20th, Wall Street Journal reports. Shareholders of record on Monday, October 3rd will be given a dividend of 0.1125 per share on Monday, October 17th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, September 30th.

Sylvamo Stock Down 0.5 %

NYSE SLVM opened at $36.31 on Thursday. The company has a debt-to-equity ratio of 5.12, a current ratio of 1.52 and a quick ratio of 1.18. The company’s 50 day simple moving average is $39.72 and its 200 day simple moving average is $39.46. Sylvamo has a 12 month low of $23.10 and a 12 month high of $53.00. The company has a market capitalization of $1.60 billion and a P/E ratio of 13.16.

Sylvamo (NYSE:SLVMGet Rating) last released its earnings results on Thursday, August 11th. The company reported $2.02 earnings per share for the quarter. The business had revenue of $912.00 million for the quarter. Sylvamo had a net margin of 3.21% and a return on equity of 136.59%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their target price on shares of Sylvamo from $45.00 to $55.00 in a research report on Friday, August 12th.

Insider Activity at Sylvamo

In other Sylvamo news, major shareholder Paper Co /New/ International sold 4,614,358 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $36.25, for a total value of $167,270,477.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sylvamo

Large investors have recently bought and sold shares of the stock. Yousif Capital Management LLC grew its holdings in Sylvamo by 1.6% during the 1st quarter. Yousif Capital Management LLC now owns 34,066 shares of the company’s stock worth $1,134,000 after acquiring an additional 533 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Sylvamo in the first quarter valued at $25,000. Prudential Financial Inc. lifted its holdings in Sylvamo by 2.3% during the 2nd quarter. Prudential Financial Inc. now owns 36,604 shares of the company’s stock valued at $1,172,000 after purchasing an additional 831 shares during the last quarter. Captrust Financial Advisors grew its position in Sylvamo by 36.4% in the second quarter. Captrust Financial Advisors now owns 3,744 shares of the company’s stock valued at $122,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Credit Suisse AG grew its holdings in shares of Sylvamo by 8.8% during the second quarter. Credit Suisse AG now owns 28,225 shares of the company’s stock worth $923,000 after purchasing an additional 2,271 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Company Profile

(Get Rating)

Sylvamo Corporation produces and supplies printing paper in Latin America, Europe, and North America. The company offers uncoated freesheet for paper products, such as cutsize and offset paper; and markets pulp, aseptic, and liquid packaging board, as well as coated unbleached kraft papers. It also produces hardwood pulp, including bleached hardwood kraft and bleached eucalyptus kraft; bleached softwood kraft; and bleached chemi-thermomechanical pulp.

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