Sylvamo (NYSE:SLVM) Stock Falls 6.2% After Analyst Downgrade

Sylvamo Corporation (NYSE:SLVM) fell 6.2% on Monday after Truist Financial lowered their price target on the stock from $49.00 to $40.00. Truist Financial currently has a buy rating on the stock. Sylvamo traded as low as $30.57 and last traded at $30.6150. Approximately 34,839 shares changed hands during trading, a decline of 90% from the average daily volume of 332,811 shares. The stock had previously closed at $32.65.

SLVM has been the subject of a number of other research reports. Royal Bank Of Canada decreased their price target on Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a research report on Friday, July 17th. Bank of America reiterated a “neutral” rating and issued a $45.00 target price on shares of Sylvamo in a research report on Tuesday, July 14th. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Wells Fargo & Company began coverage on shares of Sylvamo in a report on Wednesday, September 16th. They set an “overweight” rating and a $47.00 price target on the stock. Finally, Zacks Research lowered Sylvamo from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sylvamo currently has a consensus rating of “Hold” and an average price target of $44.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH increased its stake 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 acquiring an additional 69,195 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Sylvamo in the second quarter valued at approximately $1,299,000. SG Americas Securities LLC boosted its stake in Sylvamo by 8.3% in the 1st 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 during the period. Rokos Capital Management LLP bought a new position in shares of Sylvamo during the first quarter worth about $10,802,000. Finally, State Street Corp raised its position in 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 buying an additional 69,299 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Trading Up 3.3%

The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.12 and a beta of 0.87. The business has a 50-day simple moving average of $35.82 and a two-hundred day simple moving average of $38.48. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 1.47.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $806.00 million during the quarter, compared to the consensus estimate of $811.25 million. Sylvamo had a net margin of 2.31% and a return on equity of 8.36%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. As a group, research analysts forecast that Sylvamo Corporation will post 1.53 EPS for the current year.

Sylvamo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 2nd. Sylvamo’s dividend payout ratio is 95.74%.

Sylvamo Company Profile

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.