Sylvamo (NYSE:SLVM – Free Report) had its target price lowered by Royal Bank of Canada from $83.00 to $80.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.
Separately, Bank of America reiterated an “underperform” rating and issued a $96.00 price target on shares of Sylvamo in a report on Wednesday, December 11th.
Check Out Our Latest Stock Analysis on Sylvamo
Sylvamo Price Performance
Sylvamo (NYSE:SLVM – Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. Research analysts anticipate that Sylvamo will post 7.15 earnings per share for the current year.
Sylvamo Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Monday, January 6th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.51%. Sylvamo’s payout ratio is 27.99%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in SLVM. Fortitude Family Office LLC grew its stake in Sylvamo by 116.6% in the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock valued at $38,000 after acquiring an additional 239 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after purchasing an additional 171 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Sylvamo by 182.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $49,000 after purchasing an additional 403 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock worth $58,000 after purchasing an additional 214 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Sylvamo by 464.5% during the 4th quarter. Covestor Ltd now owns 779 shares of the company’s stock valued at $62,000 after buying an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Sylvamo Company Profile
Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.
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