International Paper (NYSE:IP) Position Increased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in International Paper (NYSE:IP) by 90.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,950 shares of the basic materials company’s stock after acquiring an additional 10,427 shares during the period. Brown Brothers Harriman & Co.’s holdings in International Paper were worth $947,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in International Paper by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after acquiring an additional 5,492,035 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of International Paper by 133.7% during the second quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares in the last quarter. Franklin Resources Inc. boosted its position in International Paper by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the last quarter. Norges Bank acquired a new stake in shares of International Paper during the 4th quarter valued at about $94,913,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in International Paper in the second quarter worth approximately $81,187,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Down 0.6 %

International Paper stock opened at $49.52 on Wednesday. International Paper has a 12 month low of $31.76 and a 12 month high of $50.55. The stock has a market cap of $17.20 billion, a price-to-earnings ratio of 101.06 and a beta of 1.04. The business has a 50 day moving average price of $46.62 and a two-hundred day moving average price of $42.50. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts forecast that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.74%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Ratings Changes

Several research firms have commented on IP. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 14th. Royal Bank of Canada increased their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Stifel Nicolaus began coverage on shares of International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Finally, Wells Fargo & Company boosted their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.21.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the sale, the vice president now owns 16,788 shares in the company, valued at $792,729.36. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $927,956 over the last three months. Company insiders own 0.55% of the company’s stock.

International Paper Company Profile

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.