Sylvamo Co. (NYSE:SLVM) to Issue $0.30 Quarterly Dividend

Sylvamo Co. (NYSE:SLVM) announced a quarterly dividend on Tuesday, February 20th, Zacks reports. Stockholders 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 dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, April 5th.

Sylvamo has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Research 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 0.5 %

NYSE SLVM opened at $62.36 on Thursday. The firm has a 50 day moving average of $55.95 and a two-hundred day moving average of $49.90. Sylvamo has a 52 week low of $37.59 and a 52 week high of $64.32. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $2.57 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 0.36 and a beta of 1.10.

Sylvamo (NYSE:SLVM) last released its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.82 by $0.34. The firm had revenue of $964.00 million during the quarter, compared to the consensus estimate of $903.72 million. Sylvamo had a net margin of 6.77% and a return on equity of 32.81%. Sylvamo’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. As a group, research analysts expect that Sylvamo will post 5.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Sylvamo

In related news, SVP Peggy Maes sold 1,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total value of $55,090.00. Following the sale, the senior vice president now directly owns 10,535 shares of the company’s stock, valued at approximately $580,373.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Peggy Maes sold 1,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $55.09, for a total value of $55,090.00. Following the sale, the senior vice president now directly owns 10,535 shares of the company’s stock, valued at approximately $580,373.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeanmichel Ribieras sold 12,226 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $62.94, for a total transaction of $769,504.44. Following the completion of the sale, the chief executive officer now directly owns 144,501 shares in the company, valued at $9,094,892.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,951 shares of company stock valued at $1,618,664. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Sylvamo

Several hedge funds have recently modified their holdings of SLVM. JPMorgan Chase & Co. boosted its stake in shares of Sylvamo by 202.9% during the 1st quarter. JPMorgan Chase & Co. now owns 87,208 shares of the company’s stock worth $2,902,000 after purchasing an additional 58,413 shares during the last quarter. American Century Companies Inc. purchased a new position in Sylvamo in the first quarter valued at approximately $299,000. Citigroup Inc. raised its holdings in Sylvamo by 18.7% in the first quarter. Citigroup Inc. now owns 34,363 shares of the company’s stock valued at $1,144,000 after buying an additional 5,412 shares during the period. Rhumbline Advisers raised its holdings in Sylvamo by 4.1% in the first quarter. Rhumbline Advisers now owns 84,128 shares of the company’s stock valued at $2,800,000 after buying an additional 3,347 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Sylvamo by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,418 shares of the company’s stock valued at $1,012,000 after buying an additional 3,749 shares during the period. 91.16% of the stock is 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.