Sylvamo (NYSE:SLVM) Hits New 52-Week Low – Here’s Why

Sylvamo Corporation (NYSE:SLVM)’s stock price hit a new 52-week low on Monday. The company traded as low as $31.58 and last traded at $32.2810, with a volume of 361637 shares. The stock had previously closed at $32.48.

Wall Street Analysts Forecast Growth

SLVM has been the topic of several research reports. Wells Fargo & Company assumed coverage on Sylvamo in a report on Wednesday, September 16th. They issued an “overweight” rating and a $47.00 price target on the stock. Royal Bank Of Canada reduced their price objective on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research note on Friday, July 17th. Bank of America restated a “neutral” rating and issued a $45.00 target price on shares of Sylvamo in a report on Tuesday, July 14th. Truist Financial reaffirmed a “buy” rating and set a $49.00 target price (down from $51.00) on shares of Sylvamo in a research report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sylvamo in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.75.

Sylvamo Price Performance

The stock’s fifty day moving average price is $36.43 and its 200-day moving average price is $38.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.47 and a quick ratio of 0.80. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.20 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last issued 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 business 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. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Sylvamo Corporation will post 1.53 EPS for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, October 2nd. Sylvamo’s dividend payout ratio (DPR) is 95.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Sylvamo by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock worth $57,547,000 after acquiring an additional 72,177 shares during the period. State Street Corp increased its holdings 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 valued at $52,533,000 after purchasing an additional 69,299 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Sylvamo by 15.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock valued at $19,132,000 after purchasing an additional 69,195 shares during the period. Rokos Capital Management LLP purchased a new stake in shares of Sylvamo in the first quarter worth approximately $10,802,000. Finally, SG Americas Securities LLC lifted 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 purchasing an additional 18,653 shares in the last quarter. Hedge funds and other institutional investors 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, 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.