Principal Financial Group Inc. Reduces Stake in Sylvamo Corporation $SLVM

Principal Financial Group Inc. cut its position in shares of Sylvamo Corporation (NYSE:SLVM) by 23.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 161,181 shares of the company’s stock after selling 49,268 shares during the period. Principal Financial Group Inc.’s holdings in Sylvamo were worth $6,808,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SLVM. UMB Bank n.a. grew its holdings in Sylvamo by 171.2% in the fourth quarter. UMB Bank n.a. now owns 564 shares of the company’s stock valued at $27,000 after purchasing an additional 356 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Sylvamo by 222.8% during the 4th quarter. GAMMA Investing LLC now owns 765 shares of the company’s stock worth $37,000 after buying an additional 528 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Sylvamo during the 4th quarter worth $38,000. Advisory Services Network LLC purchased a new stake in shares of Sylvamo in the 3rd quarter worth about $38,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Sylvamo by 162.7% in the 4th quarter. Farther Finance Advisors LLC now owns 838 shares of the company’s stock worth $40,000 after buying an additional 519 shares in the last quarter. 91.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sylvamo news, Director Lizanne M. Bruce sold 1,230 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $41.70, for a total value of $51,291.00. Following the sale, the director directly owned 14,475 shares of the company’s stock, valued at approximately $603,607.50. This trade represents a 7.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

Sylvamo Trading Down 1.6%

Shares of SLVM opened at $37.65 on Tuesday. Sylvamo Corporation has a fifty-two week low of $35.53 and a fifty-two week high of $56.80. The company has a market capitalization of $1.50 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. The stock has a fifty day moving average of $38.78 and a two-hundred day moving average of $42.93. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 1.45.

Sylvamo (NYSE:SLVM) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.28). The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $740.85 million. Sylvamo had a return on equity of 9.79% and a net margin of 3.11%.Sylvamo’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. As a group, analysts forecast that Sylvamo Corporation will post 2.2 EPS for the current year.

Sylvamo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Tuesday, July 7th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, July 7th. This represents a $1.80 annualized dividend and a yield of 4.8%. Sylvamo’s dividend payout ratio is 71.15%.

Wall Street Analyst Weigh In

SLVM has been the subject of several recent research reports. Bank of America restated a “neutral” rating and set a $45.00 target price on shares of Sylvamo in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Sylvamo from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings lowered shares of Sylvamo from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Zacks Research cut shares of Sylvamo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Finally, Truist Financial dropped their price objective on shares of Sylvamo from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $47.33.

Sylvamo Company Profile

Sylvamo Corporation, trading on the New York Stock Exchange under the ticker SLVM, is a leading global producer of uncoated freesheet paper. The company was established in October 2021 through a spin-off from International Paper, creating an independent entity focused exclusively on the development, manufacturing and marketing of high-quality uncoated paper products. Headquartered in Memphis, Tennessee, Sylvamo draws on decades of industry experience inherited from its predecessor, positioning itself to meet evolving customer needs in paper-based communications and packaging applications.

The company’s core product portfolio includes office and digital print papers, direct mail and marketing materials, catalog and commercial printing papers, and a range of specialty and value-added grades.