Sylvamo (NYSE:SLVM) Stock Bumped Up to Hold by Zacks Research

Zacks Research upgraded shares of Sylvamo (NYSE:SLVM) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks reports.

SLVM has been the subject of several other research reports. Wall Street Zen upgraded Sylvamo from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. 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 decreased their target price on shares of Sylvamo from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday. 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 for the company. Finally, Royal Bank Of Canada lowered their price target on shares of Sylvamo from $49.00 to $46.00 and set a “sector perform” rating for the company in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.50.

Sylvamo Trading Up 3.3%

NYSE SLVM opened at $32.19 on Monday. The firm has a market cap of $1.28 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.12 and a beta of 0.87. Sylvamo has a 1-year low of $30.40 and a 1-year high of $56.80. The stock has a 50-day moving average of $35.82 and a 200-day moving average of $38.48. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.88.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $806.00 million for the quarter, compared to analyst estimates of $811.25 million. Sylvamo had a return on equity of 8.36% and a net margin of 2.31%. Sylvamo’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.37 EPS. As a group, sell-side analysts forecast that Sylvamo will post 1.53 EPS for the current year.

Sylvamo Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SLVM. Rokos Capital Management LLP purchased a new stake in Sylvamo in the first quarter worth approximately $10,802,000. Bank of America Corp DE raised its stake in Sylvamo by 81.6% during the 1st quarter. Bank of America Corp DE now owns 224,199 shares of the company’s stock valued at $9,470,000 after buying an additional 100,746 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Sylvamo by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after buying an additional 72,177 shares during the last quarter. State Street Corp raised its stake in Sylvamo by 5.2% during 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. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Sylvamo by 15.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock valued at $19,132,000 after buying an additional 69,195 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.

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.