Principal Financial Group Inc. Has $15.06 Million Stock Position in Sylvamo Co. (NYSE:SLVM)

Principal Financial Group Inc. reduced its position in shares of Sylvamo Co. (NYSE:SLVM) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm owned 175,468 shares of the company’s stock after selling 11,537 shares during the period. Principal Financial Group Inc.’s holdings in Sylvamo were worth $15,064,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Sylvamo by 62.5% during the second quarter. CWM LLC now owns 408 shares of the company’s stock worth $28,000 after buying an additional 157 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock worth $28,000 after buying an additional 404 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock worth $35,000 after buying an additional 303 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Sylvamo by 116.6% during the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after buying an additional 239 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Sylvamo by 59.0% during the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock worth $40,000 after buying an additional 171 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors and hedge funds.

Sylvamo Stock Performance

Shares of SLVM opened at $84.59 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.05 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $3.47 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 4.55 and a beta of 1.08. The firm’s fifty day simple moving average is $83.75 and its two-hundred day simple moving average is $75.35. Sylvamo Co. has a 12 month low of $44.94 and a 12 month high of $98.02.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. The business had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $960.47 million. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 earnings per share. As a group, analysts predict that Sylvamo Co. will post 7.07 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.45 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. Sylvamo’s dividend payout ratio (DPR) is currently 27.99%.

Analyst Upgrades and Downgrades

SLVM has been the topic of several analyst reports. Bank of America boosted their price objective on shares of Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Sidoti initiated coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th.

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.