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

Principal Financial Group Inc. trimmed its position in Sylvamo Co. (NYSE:SLVM - Free Report) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,468 shares of the company's stock after selling 11,537 shares during the quarter. Principal Financial Group Inc. owned about 0.43% of Sylvamo worth $15,064,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SLVM. CWM LLC boosted its stake in Sylvamo by 62.5% in the 2nd quarter. CWM LLC now owns 408 shares of the company's stock worth $28,000 after purchasing an additional 157 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of Sylvamo by 6,733.3% in 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 lifted its stake in shares of Sylvamo by 149.3% in the 2nd quarter. Fifth Third Bancorp now owns 506 shares of the company's stock valued at $35,000 after purchasing an additional 303 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Sylvamo by 116.6% during the 3rd quarter. Fortitude Family Office LLC now owns 444 shares of the company's stock worth $38,000 after acquiring an additional 239 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Sylvamo by 59.0% in the 3rd quarter. GAMMA Investing LLC now owns 461 shares of the company's stock valued at $40,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 91.16% of the company's stock.

Sylvamo Stock Performance

Sylvamo stock traded up $0.36 during mid-day trading on Friday, hitting $84.59. 341,209 shares of the company's stock traded hands, compared to its average volume of 315,323. Sylvamo Co. has a one year low of $44.94 and a one year high of $98.02. The company has a quick ratio of 1.05, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.47 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 4.55 and a beta of 1.08. The firm has a 50 day moving average price of $83.95 and a 200 day moving average price of $75.50.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.18 by $0.26. The company had revenue of $965.00 million for the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. Sylvamo's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.70 earnings per share. On average, equities analysts forecast that Sylvamo Co. will post 7.07 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.80 annualized dividend and a yield of 2.13%. Sylvamo's dividend payout ratio (DPR) is presently 27.99%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SLVM. Bank of America upped their target price on shares of Sylvamo from $82.00 to $88.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. Royal Bank of Canada upped their price target on Sylvamo from $63.00 to $71.00 and gave the stock a "sector perform" rating in a report on Monday, August 12th. Finally, Sidoti assumed coverage on shares of Sylvamo in a research note on Tuesday, October 15th. They set a "buy" rating and a $100.00 price objective for the company.

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.