Sylvamo (NYSE:SLVM) Given New $51.00 Price Target at Truist Financial

Sylvamo (NYSE:SLVM) had its price target decreased by Truist Financial from $54.00 to $51.00 in a research note published on Wednesday, Marketbeat Ratings reports. Truist Financial currently has a buy rating on the stock.

SLVM has been the topic of a number of other reports. Bank of America reiterated a “neutral” rating and issued a $45.00 price objective on shares of Sylvamo in a report on Tuesday. Weiss Ratings downgraded Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Royal Bank Of Canada decreased their price target on Sylvamo from $50.00 to $49.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. Finally, Zacks Research upgraded Sylvamo from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sylvamo currently has a consensus rating of “Hold” and an average price target of $48.33.

Sylvamo Price Performance

Sylvamo stock opened at $37.70 on Wednesday. The company has a fifty day simple moving average of $39.05 and a 200-day simple moving average of $43.50. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 0.60 and a beta of 0.87. 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 has a 52-week low of $35.53 and a 52-week high of $56.80.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results 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). Sylvamo had a net margin of 3.11% and a return on equity of 9.79%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $740.85 million. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Sylvamo will post 2.25 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors 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 yield of 4.8%. The ex-dividend date of this dividend is Tuesday, July 7th. Sylvamo’s dividend payout ratio is presently 71.15%.

Insider Transactions at Sylvamo

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $41.70, for a total transaction of $51,291.00. Following the sale, the director directly owned 14,475 shares in the company, valued at $603,607.50. This represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in Sylvamo by 605.9% during the fourth quarter. Millennium Management LLC now owns 2,233,209 shares of the company’s stock worth $107,529,000 after purchasing an additional 1,916,829 shares during the last quarter. Jain Global LLC purchased a new position in Sylvamo in the fourth quarter valued at approximately $39,072,000. William Blair Investment Management LLC purchased a new position in Sylvamo in the fourth quarter valued at approximately $33,777,000. Nomura Holdings Inc. raised its holdings in Sylvamo by 34.1% during the third quarter. Nomura Holdings Inc. now owns 2,150,000 shares of the company’s stock worth $95,073,000 after purchasing an additional 546,336 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Sylvamo during the second quarter worth approximately $15,030,000. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Company Profile

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.