Sylvamo (NYSE:SLVM) stock price rises 8.7% after dividend announcement
Following the announcement that the company would pay a dividend on Friday, shares of Sylvamo Co. (NYSE: SLVM) rose 8.7%. After hitting a high of $47.38, the stock price eventually stabilized at $47.18. The number of shares that changed hands during lunchtime trading was around 1,999, down 99% from the typical daily volume of 362,290 shares. Prior to that, the stock ended the day at $43.42 per share. The dividend that has just been announced will be paid on January 25. On Wednesday, January 4, registered shareholders will be eligible to receive dividend payments of $0.25 per share. This equates to a dividend payment of $1 per year and a dividend yield of 2.11%. The increase in the amount of Sylvamo’s last quarterly dividend, which was $0.11, has been implemented. The dividend payment is scheduled for January 3. For Sylvamo, the distribution rate is 16.30%.
On Thursday, August 11, Sylvamo (NYSE: SLVM) announced its results to the public. During the reporting period, the company generated earnings of $2.02 per share (EPS). Sylvamo’s net margin was 3.21% and the company had a return on equity of 136.59%. The total revenue the company reported during the quarter was $912 million. In the current fiscal year, Sylvamo Company is expected to earn $3.57 per share, according to the average forecast.
The market value of the company is currently $2.09 billion and its PE ratio currently stands at 17.27. The company’s moving average over the past 50 days is $41.06 and its moving average over the past 200 days is $41.09. Therefore, 1.52 is the current ratio value, 1.18 is the quick ratio value, and 5.12 is the debt ratio value.
The number of investigations and studies related to SLVM has increased in recent years. As a result, the target price the Royal Bank of Canada has placed on Sylvamo shares has risen from $55.00 to $60.00 in a report released Friday. The bank also gave the company an “outperform” rating. In a report released Thursday, October 13, Bank of America began providing coverage for Sylvamo shares. They suggested that the organization make a “buy” decision.
Paper Co./New/International, a key Sylvamo shareholder, sold 4,614,358 shares of the company on Monday, September 12, according to other Sylvamo-related news. At an average price of $36.25, the shares could fetch a total of $167,270,477.50 when sold. The transaction was made public through a legal filing submitted to the Securities and Exchange Commission. This filing can be located on the SEC’s website. Currently, business insiders own 0.33% of the company’s shares.
Recent months have seen the number of institutional investors and hedge funds either increase or decrease the proportion of company shares they hold. For example, in the first three months of the year, Mutual of America Capital Management LLC added an additional 5.5% shares to its holdings in Sylvamo. Following the acquisition of 264 additional shares in the previous quarter, Mutual of America Capital Management LLC now owns 5,084 shares of the company, worth $169,000. Additionally, a 19.6% increase in Allspring Global Investments Holdings LLC’s ownership interest in Sylvamo was achieved during the company’s third quarter reporting period. Following the acquisition of 292 additional shares during the last quarter, Allspring Global Investments Holdings LLC now owns 1,782 shares of the company, which are valued at $60,000, valued at $60,000, valued at $60,000, valued at $60,000, valued at $60,000, worth $60,000, worth $60,000, worth $60,000, worth $60,000, worth $60,000, worth $60,000 Brown Brothers Harriman & Co. increased its holdings of Sylvamo by 20.4% in the second quarter of the year. After making additional purchases totaling 316 shares in the last quarter, Brown Brothers Harriman & Co. now owns 1,864 shares of the company, which are worth $61,000. Additionally, the Texas Permanent School Fund increased the percentage of Sylvamo shares held by 1.8% during the second quarter of the fiscal year. Following the acquisition of 441 additional shares during the last quarter, the Texas Permanent School Fund now owns 25,456 shares of the company, valued at $832,000. It comes after the fund previously acquired 25,456 shares.
Last but not least, in the first three months of 2018, the New York State Teachers’ Retirement System increased the percentage of Sylvamo shares held by 1.0%. The New York State Teachers’ Retirement System now has 50,586 shares of the company, valued at $1,684,000 following the acquisition of 497 additional shares in the last quarter. The company’s shares are 92.87% owned by institutional investors and hedge funds.