Principal Financial Group Inc. Boosts Stock Holdings in Sylvamo Co. (NYSE:SLVM)

Principal Financial Group Inc. boosted its stake in Sylvamo Co. (NYSE:SLVM - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,662 shares of the company's stock after purchasing an additional 7,194 shares during the quarter. Principal Financial Group Inc. owned about 0.45% of Sylvamo worth $14,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its position in Sylvamo by 83,084.0% in the 3rd quarter. Pacer Advisors Inc. now owns 2,304,197 shares of the company's stock valued at $197,815,000 after acquiring an additional 2,301,427 shares during the period. International Assets Investment Management LLC increased its holdings in Sylvamo by 6,693.0% in the third quarter. International Assets Investment Management LLC now owns 69,085 shares of the company's stock valued at $5,931,000 after purchasing an additional 68,068 shares during the period. Barclays PLC increased its holdings in Sylvamo by 324.6% in the third quarter. Barclays PLC now owns 62,435 shares of the company's stock valued at $5,360,000 after purchasing an additional 47,730 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Sylvamo during the 3rd quarter worth $3,046,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Sylvamo by 724.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,505 shares of the company's stock worth $3,220,000 after buying an additional 32,954 shares during the period. Institutional investors own 91.16% of the company's stock.

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Sylvamo Stock Up 1.3 %

SLVM stock traded up $0.90 during mid-day trading on Friday, reaching $71.01. 522,011 shares of the company traded hands, compared to its average volume of 303,870. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92. The firm's 50 day moving average price is $76.86 and its 200 day moving average price is $81.45. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 2.23 and a beta of 1.12. Sylvamo Co. has a fifty-two week low of $56.20 and a fifty-two week high of $98.02.

Sylvamo (NYSE:SLVM - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.84 by $0.10. Sylvamo had a net margin of 7.96% and a return on equity of 34.72%. As a group, equities research analysts predict that Sylvamo Co. will post 7.45 EPS for the current fiscal year.

Sylvamo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, April 8th. Sylvamo's dividend payout ratio is currently 24.97%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SLVM shares. Royal Bank of Canada cut their price objective on Sylvamo from $83.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 13th. Bank of America restated an "underperform" rating and set a $96.00 price target on shares of Sylvamo in a report on Wednesday, December 11th.

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.