Lizanne Bruce Sells 1,230 Shares of Sylvamo (NYSE:SLVM) Stock

Sylvamo Corporation (NYSE:SLVM) Director Lizanne Bruce sold 1,230 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $41.70, for a total value of $51,291.00. Following the completion of the sale, the director directly owned 14,475 shares in the company, valued at $603,607.50. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sylvamo Stock Performance

NYSE:SLVM opened at $39.69 on Thursday. The stock’s 50-day simple moving average is $40.62 and its 200 day simple moving average is $44.98. The firm has a market capitalization of $1.58 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.62 and a beta of 0.86. The company has a quick ratio of 0.81, a current ratio of 1.45 and a debt-to-equity ratio of 0.78. Sylvamo Corporation has a twelve month low of $35.53 and a twelve month high of $56.80.

Sylvamo (NYSE:SLVM) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. On average, analysts anticipate that Sylvamo Corporation will post 2.32 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Tuesday, July 7th will be given a $0.45 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.5%. Sylvamo’s dividend payout ratio (DPR) is currently 71.15%.

Analysts Set New Price Targets

SLVM has been the topic of a number of research analyst reports. Truist Financial initiated coverage on shares of Sylvamo in a research report on Monday, March 30th. They issued a “buy” rating and a $54.00 target price on the stock. Royal Bank Of Canada cut their target price on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research report on Monday, May 11th. Zacks Research upgraded shares of Sylvamo from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings lowered shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.00.

Institutional Trading of Sylvamo

A number of hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of Sylvamo by 3.8% during the first quarter. Empowered Funds LLC now owns 152,602 shares of the company’s stock valued at $6,446,000 after purchasing an additional 5,599 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Sylvamo by 81.6% during the first quarter. Bank of America Corp DE now owns 224,199 shares of the company’s stock worth $9,470,000 after purchasing an additional 100,746 shares during the period. Amundi acquired a new position in shares of Sylvamo during the first quarter worth $214,000. California State Teachers Retirement System lifted its holdings in shares of Sylvamo by 31.0% during the first quarter. California State Teachers Retirement System now owns 42,074 shares of the company’s stock worth $1,777,000 after purchasing an additional 9,960 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Sylvamo by 11.4% during the first quarter. Royal Bank of Canada now owns 6,348 shares of the company’s stock worth $268,000 after purchasing an additional 648 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

About Sylvamo

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.