Sylvamo (NYSE:SLVM) Shares Gap Down After Earnings Miss

Sylvamo Co. (NYSE:SLVM) shares gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $60.20, but opened at $57.76. Sylvamo shares last traded at $52.68, with a volume of 51,704 shares traded.

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

Sylvamo Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity at Sylvamo

In other Sylvamo news, CEO Jeanmichel Ribieras sold 21,250 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $65.14, for a total value of $1,384,225.00. Following the sale, the chief executive officer now owns 131,894 shares of the company’s stock, valued at $8,591,575.16. The trade was a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SLVM. Vanguard Group Inc. lifted its stake in Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,994,527 shares of the company’s stock worth $200,843,000 after acquiring an additional 149,326 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Sylvamo during the first quarter worth about $349,000. LSV Asset Management boosted its stake in shares of 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 first quarter valued at approximately $688,000. Finally, Foster & Motley Inc. grew its holdings in shares of Sylvamo by 52.1% in the first quarter. Foster & Motley Inc. now owns 36,275 shares of the company’s stock valued at $2,433,000 after purchasing an additional 12,425 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Sylvamo Stock Performance

The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.56. The stock has a market capitalization of $2.15 billion, a PE ratio of 7.31, a P/E/G ratio of 2.23 and a beta of 1.18. The firm’s 50 day moving average is $62.41 and its two-hundred day moving average is $75.06.

Sylvamo Company Profile

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.