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

Principal Financial Group Inc. trimmed its position in Sylvamo Co. (NYSE:SLVM) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

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

Sylvamo Price Performance

SLVM opened at $79.46 on Friday. 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 12 month low of $44.94 and a 12 month high of $98.02. 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 company has a fifty day simple moving average of $87.37 and a 200 day simple moving average of $79.38.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.26. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.47 million. During the same period in the previous year, the firm earned $1.70 EPS. Sylvamo’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts expect that Sylvamo Co. will post 7.15 EPS for the current year.

Sylvamo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Monday, January 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.27%. Sylvamo’s dividend payout ratio is currently 27.99%.

Wall Street Analysts Forecast Growth

SLVM has been the topic of several research analyst reports. Bank of America restated an “underperform” rating and set a $96.00 target price on shares of Sylvamo in a report on Wednesday, December 11th. Sidoti started coverage on shares of Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price objective on the stock.

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.