Sylvamo (NYSE:SLVM) Stock Price Down 6.2% After Analyst Downgrade

Shares of Sylvamo Corporation (NYSE:SLVM – Get Free Report) traded down 6.2% during trading on Monday after Truist Financial lowered their price target on the stock from $49.00 to $40.00. Truist Financial currently has a buy rating on the stock. Sylvamo traded as low as $30.57 and last traded at $30.6150. 34,839 shares changed hands during trading, a decline of 90% from the average session volume of 332,811 shares. The stock had previously closed at $32.65.

A number of other research firms also recently commented on SLVM. Royal Bank Of Canada decreased their target price on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a report on Friday, July 17th. Bank of America restated a “neutral” rating and issued a $45.00 price objective on shares of Sylvamo in a research report on Tuesday, July 14th. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sylvamo in a research report on Friday, August 7th. Finally, Wells Fargo & Company began coverage on Sylvamo in a report on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.50.

Check Out Our Latest Analysis on SLVM

Institutional Trading of Sylvamo

Hedge funds and other institutional investors have recently modified their holdings of the business. Nykredit A S purchased a new stake in Sylvamo in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC grew its stake in shares of Sylvamo by 68.8% during the third quarter. Farther Finance Advisors LLC now owns 1,094 shares of the company’s stock worth $36,000 after purchasing an additional 446 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Sylvamo during the 2nd quarter worth about $68,000. Versant Capital Management Inc raised its holdings in Sylvamo by 378.3% during the second quarter. Versant Capital Management Inc now owns 2,645 shares of the company’s stock worth $100,000 after purchasing an additional 2,092 shares in the last quarter. Finally, Amundi purchased a new stake in Sylvamo in the first quarter valued at $214,000. 91.16% of the stock is owned by institutional investors and hedge funds.

Sylvamo Trading Up 3.3%

The business has a 50-day moving average of $35.82 and a 200-day moving average of $38.48. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.12 and a beta of 0.87. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 1.47.

Sylvamo (NYSE:SLVM – Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported $0.03 EPS for the quarter, beating 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 firm had revenue of $806.00 million during the quarter, compared to the consensus estimate of $811.25 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Sylvamo’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Sylvamo Corporation will post 1.53 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently declared 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 5.6%. Sylvamo’s dividend payout ratio is 95.74%.

Sylvamo Company Profile

(Get Free Report)

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, copying, office applications, and other commercial and industrial purposes. Its portfolio includes cut-size office paper, offset and publishing papers, and specialty paper products sold under brands such as Hammermill, Springhill, and Williamsburg.

Headquartered in Memphis, Tennessee, Sylvamo serves customers through operations and sales networks in North America, Latin America, and Europe.

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