Principal Financial Group Inc. Decreases Stock Position in Sylvamo Co. (NYSE:SLVM)

Principal Financial Group Inc. lessened its holdings in Sylvamo Co. (NYSE:SLVM - Free Report) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,468 shares of the company's stock after selling 11,537 shares during the quarter. Principal Financial Group Inc. owned 0.43% of Sylvamo worth $15,064,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in Sylvamo by 83,084.0% in the third quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company's stock valued at $197,815,000 after buying an additional 2,301,427 shares in the last quarter. American Century Companies Inc. grew its holdings in Sylvamo by 53.2% during the 2nd quarter. American Century Companies Inc. now owns 662,953 shares of the company's stock worth $45,479,000 after acquiring an additional 230,291 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Sylvamo in the 2nd quarter valued at about $9,997,000. International Assets Investment Management LLC lifted its holdings in shares of Sylvamo by 6,693.0% in the 3rd quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock worth $5,931,000 after purchasing an additional 68,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Sylvamo by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,315,989 shares of the company's stock valued at $90,276,000 after purchasing an additional 62,157 shares during the period. Institutional investors own 91.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America reiterated an "underperform" rating and set a $96.00 price objective on shares of Sylvamo in a report on Wednesday, December 11th. Sidoti started coverage on Sylvamo in a research note on Tuesday, October 15th. They set a "buy" rating and a $100.00 price target for the company.

Sylvamo Stock Down 2.8 %

Shares of NYSE SLVM traded down $2.33 during trading on Friday, hitting $79.46. The stock had a trading volume of 1,199,983 shares, compared to its average volume of 320,803. Sylvamo Co. has a 12 month low of $44.94 and a 12 month high of $98.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.72 and a quick ratio of 1.13. The firm has a fifty day moving average of $87.37 and a two-hundred day moving average of $79.45. The company has a market capitalization of $3.26 billion, a PE ratio of 12.36, a PEG ratio of 2.92 and a beta of 1.08.

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

Sylvamo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Monday, January 6th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, January 6th. Sylvamo's dividend payout ratio (DPR) is currently 27.99%.

About Sylvamo

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.