Sylvamo (NYSE:SLVM) Sets New 1-Year Low – What’s Next?

Sylvamo Corporation (NYSE:SLVM)’s share price reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $34.15 and last traded at $34.4330, with a volume of 27396 shares traded. The stock had previously closed at $34.98.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SLVM. Weiss Ratings reissued a “sell (d+)” rating on shares of Sylvamo in a research note on Friday, August 7th. Zacks Research lowered Sylvamo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Wells Fargo & Company initiated coverage on Sylvamo in a research note on Wednesday, September 16th. They set an “overweight” rating and a $47.00 target price for the company. Truist Financial restated a “buy” rating and issued a $49.00 target price (down from $51.00) on shares of Sylvamo in a research report on Monday, August 10th. Finally, Bank of America reiterated a “neutral” rating and set a $45.00 price target on shares of Sylvamo in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.75.

Sylvamo Trading Down 3.6%

The company has a market cap of $1.30 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.22 and a beta of 0.86. The company has a quick ratio of 0.80, a current ratio of 1.47 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $38.95.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping 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 business 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 company earned $0.37 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts predict that Sylvamo Corporation will post 1.53 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be given 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 5.5%. Sylvamo’s dividend payout ratio is currently 95.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in shares of Sylvamo by 5.2% during the second 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 in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Sylvamo in the second quarter valued at approximately $224,000. Tidal Investments LLC purchased a new position in Sylvamo in the second quarter worth approximately $1,299,000. Engineers Gate Manager LP grew its holdings in Sylvamo by 115.8% during the 2nd quarter. Engineers Gate Manager LP now owns 15,757 shares of the company’s stock worth $596,000 after acquiring an additional 8,457 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Sylvamo in the 2nd quarter valued at approximately $746,000. 91.16% of the stock is owned by institutional investors and hedge funds.

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.