Principal Financial Group Inc. Sells 11,537 Shares of Sylvamo Co. (NYSE:SLVM)

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

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. raised its position in Sylvamo by 9.8% during the third quarter. Franklin Resources Inc. now owns 47,955 shares of the company’s stock worth $4,040,000 after acquiring an additional 4,261 shares in the last quarter. Synovus Financial Corp bought a new stake in shares of Sylvamo in the 3rd quarter valued at about $207,000. Tidal Investments LLC lifted its stake in Sylvamo by 150.9% in the 3rd quarter. Tidal Investments LLC now owns 22,469 shares of the company’s stock valued at $1,929,000 after purchasing an additional 13,512 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Sylvamo during the third quarter worth about $82,000. Finally, Sanctuary Advisors LLC increased its position in Sylvamo by 100.9% during the third quarter. Sanctuary Advisors LLC now owns 17,904 shares of the company’s stock worth $1,627,000 after buying an additional 8,994 shares during the last quarter. Institutional investors own 91.16% of the company’s stock.

Analysts Set New Price Targets

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

Sylvamo Stock Down 2.8 %

Sylvamo stock opened at $79.46 on Friday. The company’s 50-day moving average price is $87.37 and its two-hundred day moving average price is $79.38. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. The stock has a market cap of $3.26 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.92 and a beta of 1.08. Sylvamo Co. has a twelve month low of $44.94 and a twelve month high of $98.02.

Sylvamo (NYSE:SLVM) 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. 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%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.70 earnings per share. As a group, analysts expect that Sylvamo Co. will post 7.15 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Monday, January 6th will be given a $0.45 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.27%. Sylvamo’s payout ratio is presently 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.