Principal Financial Group Inc. Acquires 10,632 Shares of International Paper (NYSE:IP)

Principal Financial Group Inc. lifted its holdings in shares of International Paper (NYSE:IP) by 2.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 417,851 shares of the basic materials company’s stock after acquiring an additional 10,632 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of International Paper worth $20,412,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Raymond James & Associates lifted its stake in International Paper by 29.6% during the third quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock worth $15,704,000 after purchasing an additional 73,367 shares during the period. Comerica Bank raised its holdings in shares of International Paper by 23.6% in the 1st quarter. Comerica Bank now owns 156,596 shares of the basic materials company’s stock worth $6,110,000 after buying an additional 29,904 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of International Paper by 3.8% during the 3rd quarter. QRG Capital Management Inc. now owns 279,288 shares of the basic materials company’s stock worth $13,643,000 after buying an additional 10,260 shares during the period. Sei Investments Co. lifted its position in shares of International Paper by 9.2% during the 1st quarter. Sei Investments Co. now owns 426,929 shares of the basic materials company’s stock worth $16,659,000 after buying an additional 35,857 shares during the period. Finally, Waverly Advisors LLC boosted its stake in International Paper by 745.4% in the 1st quarter. Waverly Advisors LLC now owns 72,103 shares of the basic materials company’s stock valued at $2,813,000 after buying an additional 63,574 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 1.6 %

NYSE IP opened at $56.38 on Thursday. The stock has a market capitalization of $19.59 billion, a P/E ratio of 48.19 and a beta of 1.02. International Paper has a 52 week low of $31.76 and a 52 week high of $59.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.53. The stock has a fifty day moving average of $49.78 and a 200-day moving average of $46.20.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts forecast that International Paper will post 1.24 EPS for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.28%. International Paper’s payout ratio is presently 158.12%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IP shares. Royal Bank of Canada increased their price objective on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price for the company. in a research report on Wednesday. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company raised their price objective on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Truist Financial reissued a “buy” rating and issued a $61.00 target price (up from $57.00) on shares of International Paper in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.54.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $53.50, for a total value of $32,100.00. Following the transaction, the director now owns 38,345 shares of the company’s stock, valued at approximately $2,051,457.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total value of $32,100.00. Following the completion of the sale, the director now owns 38,345 shares in the company, valued at $2,051,457.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,840 shares of company stock valued at $910,826. Company insiders own 0.55% of the company’s stock.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.