Sylvamo Corporation (NYSE:SLVM – Get Free Report)’s share price gapped down before the market opened on Thursday. The stock had previously closed at $34.02, but opened at $32.79. Sylvamo shares last traded at $31.7760, with a volume of 20,153 shares.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Sylvamo in a report on Wednesday, September 16th. They set an “overweight” rating and a $47.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a research note on Friday, August 7th. Zacks Research cut Sylvamo from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Bank of America restated a “neutral” rating and issued a $45.00 price target on shares of Sylvamo in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.75.
Get Our Latest Stock Analysis on SLVM
Sylvamo Stock Performance
Sylvamo (NYSE:SLVM – Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%.The firm had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $811.25 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Sylvamo’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts expect that Sylvamo Corporation will post 1.53 earnings per share for the current year.
Sylvamo Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, October 2nd. Sylvamo’s dividend payout ratio is 95.74%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of SLVM. State Street Corp raised its position in shares of Sylvamo by 5.2% in the 2nd quarter. State Street Corp now owns 1,389,749 shares of the company’s stock worth $52,533,000 after buying an additional 69,299 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Sylvamo by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after acquiring an additional 72,177 shares during the period. Allianz Asset Management GmbH boosted its position in Sylvamo by 15.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock worth $19,132,000 after purchasing an additional 69,195 shares during the period. Rokos Capital Management LLP purchased a new position in Sylvamo in the first quarter valued at about $10,802,000. Finally, SG Americas Securities LLC boosted its position in shares of Sylvamo by 8.3% in the first quarter. SG Americas Securities LLC now owns 242,221 shares of the company’s stock worth $10,231,000 after buying an additional 18,653 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.
About Sylvamo
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.
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