Insider Selling: Sylvamo Corp (SLVM) Chairman and CEO Jeanmichel Ribieras Sells 12,225 Shares
Jeanmichel Ribieras, Chairman and CEO of Sylvamo Corp (NYSE:SLVM), has sold 12,225 shares of the company on March 18, 2024, according to a recent SEC Filing. The transaction was executed at an average price of $57.2 per share, resulting in a total value of approximately $699,480.
Sylvamo Corp (NYSE:SLVM) is an international paper company that specializes in the production and distribution of printing papers and communication materials. The company's portfolio includes a wide range of products that cater to various printing and writing needs, serving customers across the globe.
Over the past year, the insider has sold a total of 24,451 shares of Sylvamo Corp (NYSE:SLVM) and has not made any share purchases. This latest transaction continues a pattern of insider sales for the company, with a total of 4 insider sells recorded over the same timeframe. There have been no insider buys reported in the past year.
On the date of the insider's recent sale, shares of Sylvamo Corp (NYSE:SLVM) were trading at $57.2, giving the company a market cap of $2.444 billion. The price-earnings ratio of the stock stands at 10.02, which is below the industry median of 13.35 and above the companys historical median price-earnings ratio.
The insider's recent sale may attract the attention of investors trying to understand the latest trends in insider transactions at Sylvamo Corp (NYSE:SLVM). While insider selling does not necessarily indicate a negative outlook on the company's future performance, it is one of many factors that shareholders may consider when analyzing their investments.
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