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

Principal Financial Group Inc. lessened its holdings in shares of Sylvamo Co. (NYSE:SLVM) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. 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.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Sylvamo by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,830,756 shares of the company’s stock worth $174,771,000 after buying an additional 138,655 shares during the period. Simplicity Wealth LLC raised its stake in shares of Sylvamo by 105.7% in the 2nd quarter. Simplicity Wealth LLC now owns 14,192 shares of the company’s stock valued at $974,000 after purchasing an additional 7,291 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of Sylvamo by 30.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 123,993 shares of the company’s stock valued at $7,655,000 after purchasing an additional 28,763 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Sylvamo by 33.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 34,156 shares of the company’s stock valued at $2,104,000 after purchasing an additional 8,503 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of Sylvamo by 80.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 23,181 shares of the company’s stock valued at $1,590,000 after purchasing an additional 10,332 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.

Wall Street Analyst Weigh In

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

Sylvamo Trading Up 0.4 %

Shares of NYSE:SLVM opened at $84.59 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. Sylvamo Co. has a 12-month low of $44.94 and a 12-month high of $98.02. The business has a 50 day moving average of $83.75 and a 200-day moving average of $75.35. The stock has a market cap of $3.47 billion, a PE ratio of 13.01, a P/E/G ratio of 4.55 and a beta of 1.08.

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

Sylvamo Dividend Announcement

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