Sylvamo (NYSE:SLVM) Reaches New 52-Week High – Time to Buy?

Shares of Sylvamo Co. (NYSE:SLVM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $88.46 and last traded at $88.00, with a volume of 95360 shares changing hands. The stock had previously closed at $85.35.

Analysts Set New Price Targets

SLVM has been the topic of several recent analyst reports. Bank of America raised their target price on shares of Sylvamo from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Sidoti initiated coverage on shares of Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Sylvamo from $63.00 to $71.00 and gave the company a “sector perform” rating in a report on Monday, August 12th.

Sylvamo Stock Down 1.4 %

The company has a market capitalization of $3.81 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 4.56 and a beta of 1.08. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.68. The firm’s fifty day moving average is $82.25 and its 200-day moving average is $74.28.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings results on Friday, August 9th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.40. The company had revenue of $933.00 million for the quarter, compared to analyst estimates of $937.56 million. Sylvamo had a net margin of 6.30% and a return on equity of 28.83%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. As a group, equities research analysts predict that Sylvamo Co. will post 7.4 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 1.94%. Sylvamo’s dividend payout ratio is presently 32.55%.

Institutional Investors Weigh In On Sylvamo

Several hedge funds have recently added to or reduced their stakes in SLVM. Janney Montgomery Scott LLC boosted its position in Sylvamo by 4.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,870 shares of the company’s stock worth $795,000 after buying an additional 547 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Sylvamo by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,912 shares of the company’s stock worth $1,909,000 after purchasing an additional 400 shares during the period. Duality Advisers LP acquired a new position in shares of Sylvamo in the 1st quarter worth approximately $261,000. Concurrent Investment Advisors LLC acquired a new position in shares of Sylvamo in the 1st quarter worth approximately $586,000. Finally, Sei Investments Co. lifted its position in shares of Sylvamo by 3.6% in the 1st quarter. Sei Investments Co. now owns 31,443 shares of the company’s stock worth $1,941,000 after purchasing an additional 1,096 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

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.