Sylvamo (NYSE:SLVM) Receives Neutral Rating from Bank of America

Bank of America reaffirmed their neutral rating on shares of Sylvamo (NYSE:SLVM) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. Bank of America currently has a $45.00 price objective on the stock.

Several other brokerages also recently issued reports on SLVM. Truist Financial initiated coverage on shares of Sylvamo in a report on Monday, March 30th. They set a “buy” rating and a $54.00 price target for the company. Royal Bank Of Canada dropped their price objective on shares of Sylvamo from $50.00 to $49.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Weiss Ratings downgraded Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Zacks Research upgraded Sylvamo from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.33.

Sylvamo Stock Performance

Sylvamo stock opened at $37.97 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.45 and a quick ratio of 0.81. The stock has a fifty day moving average price of $39.19 and a two-hundred day moving average price of $43.58. Sylvamo has a 52-week low of $35.53 and a 52-week high of $56.80. The firm has a market capitalization of $1.51 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.60 and a beta of 0.87.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, May 8th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.28). Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $740.85 million. During the same quarter in the prior year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts anticipate that Sylvamo will post 2.32 EPS for the current fiscal year.

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, July 7th. Sylvamo’s dividend payout ratio is 71.15%.

Insider Buying and Selling at Sylvamo

In related news, Director Lizanne M. Bruce sold 1,230 shares of the firm’s stock in a transaction that occurred on 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 owned 14,475 shares of the company’s stock, valued at $603,607.50. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sylvamo

Several hedge funds and other institutional investors have recently made changes to their positions in SLVM. Royce & Associates LP raised its position in shares of Sylvamo by 8.6% during the 4th quarter. Royce & Associates LP now owns 464,401 shares of the company’s stock valued at $22,361,000 after acquiring an additional 36,685 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Sylvamo by 9.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,135 shares of the company’s stock worth $31,063,000 after purchasing an additional 56,393 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Sylvamo by 2,246.7% during the fourth quarter. SG Americas Securities LLC now owns 223,568 shares of the company’s stock worth $10,765,000 after purchasing an additional 214,041 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Sylvamo by 297.9% during the fourth quarter. Bleakley Financial Group LLC now owns 40,421 shares of the company’s stock worth $1,946,000 after purchasing an additional 30,263 shares during the period. Finally, UBS Group AG increased its holdings in Sylvamo by 172.0% in the fourth quarter. UBS Group AG now owns 338,414 shares of the company’s stock valued at $16,295,000 after purchasing an additional 214,016 shares during the last quarter. 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.