Sylvamo (NYSE:SLVM) Hits New 52-Week Low After Earnings Miss

Sylvamo Co. (NYSE:SLVM)’s share price reached a new 52-week low during mid-day trading on Saturday following a dissappointing earnings announcement. The company traded as low as $51.60 and last traded at $52.72, with a volume of 751467 shares. The stock had previously closed at $60.20.

The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. The firm had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $819.61 million. During the same quarter last year, the business earned $1.07 EPS. The business’s revenue was down 9.3% compared to the same quarter last year.

Sylvamo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, April 8th. This represents a $1.80 annualized dividend and a yield of 3.41%. Sylvamo’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada decreased their price target on shares of Sylvamo from $83.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th.

Insider Activity

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.14, for a total transaction of $1,384,225.00. Following the completion of the sale, the chief executive officer now directly owns 131,894 shares in the company, valued at approximately $8,591,575.16. This trade represents a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Sylvamo

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company’s stock valued at $200,843,000 after buying an additional 149,326 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Sylvamo during the first quarter worth $349,000. LSV Asset Management raised its position in Sylvamo by 0.7% in the first quarter. LSV Asset Management now owns 1,804,055 shares of the company’s stock valued at $120,998,000 after purchasing an additional 12,371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Sylvamo in the 1st quarter valued at $688,000. Finally, Foster & Motley Inc. grew its holdings in shares of Sylvamo by 52.1% during the 1st quarter. Foster & Motley Inc. now owns 36,275 shares of the company’s stock worth $2,433,000 after purchasing an additional 12,425 shares during the period. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Stock Down 12.4 %

The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 7.31, a P/E/G ratio of 2.23 and a beta of 1.18. The business has a 50-day moving average of $62.41 and a 200-day moving average of $75.06. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56.

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.