Sylvamo Co. (NYSE:SLVM) Announces Quarterly Dividend of $0.30

Sylvamo Co. (NYSE:SLVMGet Free Report) declared a quarterly dividend on Tuesday, February 20th, Zacks reports. Investors of record on Monday, April 8th will be given a dividend of 0.30 per share on Monday, April 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, April 5th.

Sylvamo has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sylvamo to earn $5.50 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.8%.

Sylvamo Trading Up 0.7 %

Sylvamo stock opened at $62.05 on Wednesday. Sylvamo has a 12 month low of $37.59 and a 12 month high of $64.32. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.36 and a beta of 1.10. The business’s fifty day simple moving average is $55.69 and its two-hundred day simple moving average is $49.81. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 1.03.

Sylvamo (NYSE:SLVMGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.34. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. The company had revenue of $964.00 million during the quarter, compared to analyst estimates of $903.72 million. During the same period in the previous year, the business earned $1.97 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts predict that Sylvamo will post 5.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLVM. TheStreet upgraded Sylvamo from a “c+” rating to a “b” rating in a research note on Wednesday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 target price (up previously from $45.00) on shares of Sylvamo in a report on Monday, February 26th.

Check Out Our Latest Report on SLVM

Insider Buying and Selling

In other Sylvamo news, SVP Peggy Maes sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total transaction of $55,090.00. Following the completion of the sale, the senior vice president now directly owns 10,535 shares of the company’s stock, valued at $580,373.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Jeanmichel Ribieras sold 12,225 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $57.20, for a total value of $699,270.00. Following the transaction, the chief executive officer now owns 132,276 shares of the company’s stock, valued at $7,566,187.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peggy Maes sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total value of $55,090.00. Following the transaction, the senior vice president now owns 10,535 shares of the company’s stock, valued at $580,373.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,951 shares of company stock valued at $1,618,664. 0.53% of the stock is owned by insiders.

Institutional Trading of Sylvamo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. purchased a new stake in Sylvamo in the 1st quarter worth $25,000. Tyler Stone Wealth Management bought a new position in shares of Sylvamo in the second quarter worth about $31,000. Quarry LP grew its position in shares of Sylvamo by 80.0% during the second quarter. Quarry LP now owns 830 shares of the company’s stock worth $34,000 after purchasing an additional 369 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Sylvamo by 389.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 975 shares of the company’s stock valued at $45,000 after purchasing an additional 776 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in Sylvamo in the 1st quarter worth approximately $54,000. 91.16% of the stock is owned by hedge funds and other institutional investors.

Sylvamo Company Profile

(Get Free Report)

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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Dividend History for Sylvamo (NYSE:SLVM)

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