Franklin Resources Inc. Raises Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Franklin Resources Inc. raised its holdings in Sylvamo Co. (NYSE:SLVM) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,955 shares of the company’s stock after purchasing an additional 4,261 shares during the period. Franklin Resources Inc. owned about 0.12% of Sylvamo worth $4,040,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SLVM. Pacer Advisors Inc. lifted its stake in Sylvamo by 83,084.0% during the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company’s stock worth $197,815,000 after purchasing an additional 2,301,427 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Sylvamo by 53.2% in the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company’s stock valued at $45,479,000 after buying an additional 230,291 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Sylvamo during the 2nd quarter valued at about $9,997,000. International Assets Investment Management LLC raised its stake in Sylvamo by 6,693.0% during the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company’s stock worth $5,931,000 after acquiring an additional 68,068 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Sylvamo by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company’s stock valued at $90,276,000 after acquiring an additional 62,157 shares during the period. 91.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLVM has been the subject of a number of recent research reports. Bank of America restated an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research note on Wednesday, December 11th. Sidoti initiated coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They set a “buy” rating and a $100.00 target price for the company.

Sylvamo Stock Up 0.6 %

Sylvamo stock opened at $81.99 on Wednesday. The company’s 50-day moving average price is $87.77 and its two-hundred day moving average price is $79.20. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.92 and a beta of 1.08. Sylvamo Co. has a 52 week low of $44.94 and a 52 week high of $98.02. The company has a current ratio of 1.72, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94.

Sylvamo (NYSE:SLVM) last announced its earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.70 earnings per share. On average, analysts expect that Sylvamo Co. will post 7.15 EPS for the current fiscal year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Monday, January 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, January 6th. Sylvamo’s payout ratio is currently 27.99%.

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.