International Paper Co. (IP) Position Boosted by Principal Financial Group Inc.
Principal Financial Group Inc. boosted its position in shares of International Paper Co. (NYSE:IP) by 28.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 804,994 shares of the company’s stock after buying an additional 175,920 shares during the period. Principal Financial Group Inc. owned 0.20% of International Paper worth $34,116,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in International Paper by 2.7% in the first quarter. Wellington Management Group LLP now owns 26,110,129 shares of the company’s stock worth $1,071,560,000 after buying an additional 685,795 shares during the last quarter. BlackRock Fund Advisors raised its stake in International Paper by 48.3% in the first quarter. BlackRock Fund Advisors now owns 10,300,909 shares of the company’s stock worth $422,749,000 after buying an additional 3,356,879 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in International Paper by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,817,657 shares of the company’s stock worth $246,509,000 after buying an additional 364,618 shares during the last quarter. BlackRock Group LTD raised its stake in International Paper by 42.8% in the first quarter. BlackRock Group LTD now owns 5,612,262 shares of the company’s stock worth $230,327,000 after buying an additional 1,681,518 shares during the last quarter. Finally, Norges Bank purchased a new stake in International Paper during the fourth quarter worth $139,488,000. 81.73% of the stock is owned by institutional investors and hedge funds.
Shares of International Paper Co. (NYSE:IP) traded up 0.43% during mid-day trading on Thursday, reaching $48.70. 342,782 shares of the company traded hands. International Paper Co. has a 52-week low of $32.50 and a 52-week high of $49.90. The stock’s 50 day moving average is $47.68 and its 200 day moving average is $43.57. The stock has a market capitalization of $20.03 billion, a PE ratio of 26.38 and a beta of 1.59.
International Paper (NYSE:IP) last announced its earnings results on Thursday, July 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. International Paper had a net margin of 3.58% and a return on equity of 35.41%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. International Paper’s revenue was down 6.9% compared to the same quarter last year. On average, analysts anticipate that International Paper Co. will post $3.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, August 11th. International Paper’s dividend payout ratio (DPR) is currently 94.12%.
A number of equities research analysts recently weighed in on IP shares. Jefferies Group raised their price target on shares of International Paper from $47.00 to $49.00 and gave the company a “hold” rating in a report on Friday, July 29th. Deutsche Bank AG raised their price target on shares of International Paper from $40.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $42.00 price target on shares of International Paper in a report on Friday, July 29th. Vetr lowered shares of International Paper from a “strong-buy” rating to a “buy” rating and set a $46.00 price target for the company. in a report on Wednesday, June 29th. Finally, Citigroup Inc. raised their price objective on shares of International Paper from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.33.
In related news, CFO Carol L. Roberts sold 12,256 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $46.20, for a total transaction of $566,227.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas G. Kadien sold 10,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $47.86, for a total transaction of $478,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
About International Paper
International Paper Company (International Paper) is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company operates in three segments: Industrial Packaging, Printing Papers and Consumer Packaging.
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