International Paper Company $IP Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in International Paper Company (NYSE:IP) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 711,474 shares of the basic materials company’s stock after acquiring an additional 26,829 shares during the period. Principal Financial Group Inc. owned 0.13% of International Paper worth $25,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IP. McIlrath & Eck LLC raised its holdings in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. bought a new position in International Paper during the 4th quarter valued at $25,000. Ascentis Independent Advisors acquired a new position in shares of International Paper during the 1st quarter valued at $28,000. DV Equities LLC acquired a new position in shares of International Paper during the 4th quarter valued at $29,000. Finally, Sound Income Strategies LLC raised its stake in shares of International Paper by 94.0% in the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after buying an additional 344 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Down 3.5%

Shares of NYSE IP opened at $36.26 on Tuesday. International Paper Company has a one year low of $29.26 and a one year high of $56.13. The firm has a market capitalization of $19.20 billion, a PE ratio of -5.70 and a beta of 0.94. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $35.12 and a two-hundred day moving average price of $38.01.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. International Paper’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, analysts predict that International Paper Company will post 1.39 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. International Paper’s dividend payout ratio is presently -29.09%.

Insider Transactions at International Paper

In related news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was bought at an average price of $31.30 per share, with a total value of $313,000.00. Following the purchase, the director directly owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This represents a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on IP. Wells Fargo & Company raised their target price on International Paper from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Seaport Research Partners raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a report on Friday, May 1st. Citigroup raised their price objective on shares of International Paper from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. Finally, UBS Group cut their target price on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.31.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.