Sylvamo Corporation to Issue Quarterly Dividend of $0.45 (NYSE:SLVM)

Sylvamo Corporation (NYSE:SLVM) announced a quarterly dividend on Monday, September 14th. Stockholders of record on Friday, October 2nd will be paid a dividend of 0.45 per share on Friday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, October 2nd.

Sylvamo has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sylvamo to earn $5.16 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 34.9%.

Sylvamo Price Performance

Shares of Sylvamo stock opened at $35.22 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.80 and a current ratio of 1.47. Sylvamo has a 52-week low of $34.25 and a 52-week high of $56.80. The company has a fifty day moving average of $37.50 and a 200-day moving average of $39.75. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.27 and a beta of 0.86.

Sylvamo (NYSE:SLVM) last issued its earnings results on Friday, August 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $806.00 million for the quarter, compared to analysts’ expectations of $811.25 million. Sylvamo had a net margin of 2.31% and a return on equity of 8.36%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Equities research analysts expect that Sylvamo will post 1.53 EPS for the current year.

Institutional Investors Weigh In On Sylvamo

Large investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its holdings in Sylvamo by 3,572.4% in the second quarter. California State Teachers Retirement System now owns 1,545,113 shares of the company’s stock worth $58,405,000 after purchasing an additional 1,503,039 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sylvamo by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,362,474 shares of the company’s stock valued at $57,547,000 after buying an additional 72,177 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Sylvamo during the 4th quarter valued at $33,777,000. Allianz Asset Management GmbH grew its position in shares of Sylvamo by 15.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 506,147 shares of the company’s stock worth $19,132,000 after buying an additional 69,195 shares during the period. Finally, Royce & Associates LP grew its position in shares of Sylvamo by 8.6% in the 4th quarter. Royce & Associates LP now owns 464,401 shares of the company’s stock worth $22,361,000 after buying an additional 36,685 shares during the period. 91.16% of the stock is currently owned by institutional investors.

About Sylvamo

Sylvamo Corporation (NYSE: SLVM) is a global producer of uncoated paper products. The company manufactures paper used for printing, writing, education, office applications, books, envelopes and other everyday communications. Its portfolio includes consumer and business paper brands such as Hammermill, along with products sold under regional and private-label brands.

Sylvamo serves customers through operations and distribution networks in North America, Latin America and Europe. Its products are sold to merchants, retailers, businesses, publishers, printers and other commercial customers.