Sylvamo Co. (NYSE:SLVM) CEO Jeanmichel Ribieras Sells 21,250 Shares

Sylvamo Co. (NYSE:SLVM) CEO Jeanmichel Ribieras sold 21,250 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $65.53, for a total value of $1,392,512.50. Following the completion of the sale, the chief executive officer now directly owns 153,144 shares of the company’s stock, valued at approximately $10,035,526.32. This trade represents a 12.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sylvamo Stock Performance

Shares of Sylvamo stock traded down $1.87 during mid-day trading on Wednesday, hitting $64.93. 383,265 shares of the stock were exchanged, compared to its average volume of 309,720. Sylvamo Co. has a 12 month low of $56.20 and a 12 month high of $98.02. The company has a 50-day simple moving average of $75.03 and a 200 day simple moving average of $81.02. The company has a market capitalization of $2.63 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Sell-side analysts anticipate that Sylvamo Co. will post 7.45 earnings per share for the current fiscal year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo’s payout ratio is 24.97%.

Hedge Funds Weigh In On Sylvamo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its position in Sylvamo by 83,084.0% in the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after acquiring an additional 2,301,427 shares during the period. LSV Asset Management increased its stake in shares of Sylvamo by 3.8% during the 4th quarter. LSV Asset Management now owns 1,791,684 shares of the company’s stock worth $141,579,000 after purchasing an additional 66,180 shares during the last quarter. State Street Corp raised its holdings in shares of Sylvamo by 0.9% in the 3rd quarter. State Street Corp now owns 1,407,303 shares of the company’s stock worth $120,817,000 after purchasing an additional 12,181 shares during the period. First Trust Advisors LP raised its holdings in shares of Sylvamo by 39.7% in the 4th quarter. First Trust Advisors LP now owns 1,177,493 shares of the company’s stock worth $93,045,000 after purchasing an additional 334,792 shares during the period. Finally, American Century Companies Inc. lifted its stake in Sylvamo by 15.2% in the fourth quarter. American Century Companies Inc. now owns 1,016,064 shares of the company’s stock valued at $80,289,000 after purchasing an additional 134,066 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLVM. Royal Bank of Canada decreased their price target on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Bank of America reaffirmed an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a report on Wednesday, December 11th.

About Sylvamo

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.