Insider Selling: Sylvamo Co. (NYSE:SLVM) CEO Sells 21,250 Shares of Stock

Sylvamo Co. (NYSE:SLVM) CEO Jeanmichel Ribieras sold 21,250 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $65.53, for a total transaction of $1,392,512.50. Following the completion of the sale, the chief executive officer now owns 153,144 shares of the company’s stock, valued at approximately $10,035,526.32. This trade represents a 12.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sylvamo Stock Performance

NYSE:SLVM opened at $65.42 on Friday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.56 and a quick ratio of 1.03. Sylvamo Co. has a 1-year low of $56.20 and a 1-year high of $98.02. The firm’s fifty day moving average price is $74.15 and its 200 day moving average price is $80.69.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. On average, sell-side analysts expect that Sylvamo Co. will post 7.45 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo’s dividend payout ratio (DPR) is 24.97%.

Wall Street Analysts Forecast Growth

SLVM has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective 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. Bank of America reaffirmed an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th.

Institutional Trading of Sylvamo

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its holdings in Sylvamo by 182.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 624 shares of the company’s stock worth $49,000 after acquiring an additional 403 shares during the period. GAMMA Investing LLC boosted its position in shares of Sylvamo by 43.6% during the 4th quarter. GAMMA Investing LLC now owns 662 shares of the company’s stock worth $52,000 after purchasing an additional 201 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Sylvamo by 40.9% during the 4th quarter. Fifth Third Bancorp now owns 737 shares of the company’s stock worth $58,000 after purchasing an additional 214 shares during the period. Covestor Ltd increased its holdings in shares of Sylvamo by 464.5% in the 4th quarter. Covestor Ltd now owns 779 shares of the company’s stock valued at $62,000 after purchasing an additional 641 shares in the last quarter. Finally, LRI Investments LLC lifted its stake in shares of Sylvamo by 4,825.0% in the third quarter. LRI Investments LLC now owns 788 shares of the company’s stock valued at $66,000 after purchasing an additional 772 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.