Sylvamo (NYSE:SLVM) Stock Price Down 7.6% – Here’s Why

Sylvamo Co. (NYSE:SLVM) shares were down 7.6% during mid-day trading on Tuesday . The company traded as low as $87.15 and last traded at $88.19. Approximately 57,638 shares changed hands during trading, a decline of 82% from the average daily volume of 312,381 shares. The stock had previously closed at $95.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SLVM shares. Royal Bank of Canada upped their price objective on Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Bank of America upped their price objective on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Sidoti started coverage on Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective for the company.

Sylvamo Stock Up 3.5 %

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.05 and a current ratio of 1.72. The stock has a market capitalization of $3.45 billion, a PE ratio of 12.66, a PEG ratio of 4.74 and a beta of 1.08. The business has a 50 day moving average of $83.59 and a two-hundred day moving average of $75.29.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The company had revenue of $965.00 million during the quarter, compared to analysts’ expectations of $960.47 million. During the same period last year, the business posted $1.70 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Thursday, October 3rd. Sylvamo’s dividend payout ratio (DPR) is presently 27.99%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLVM. Janney Montgomery Scott LLC raised its stake in shares of Sylvamo by 4.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,870 shares of the company’s stock worth $795,000 after purchasing an additional 547 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Sylvamo by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after purchasing an additional 400 shares during the last quarter. Sei Investments Co. raised its stake in shares of Sylvamo by 3.6% in the first quarter. Sei Investments Co. now owns 31,443 shares of the company’s stock worth $1,941,000 after purchasing an additional 1,096 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Sylvamo by 2.4% in the first quarter. Russell Investments Group Ltd. now owns 23,403 shares of the company’s stock worth $1,445,000 after purchasing an additional 548 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Sylvamo by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,211 shares of the company’s stock worth $445,000 after purchasing an additional 497 shares during the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

About Sylvamo

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.