Principal Financial Group Inc. Boosts Stock Holdings in International Paper (NYSE:IP)

Principal Financial Group Inc. boosted its position in International Paper (NYSE:IP) by 2.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 417,851 shares of the basic materials company’s stock after purchasing an additional 10,632 shares during the period. Principal Financial Group Inc.’s holdings in International Paper were worth $20,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of International Paper by 88.4% during the 3rd quarter. FMR LLC now owns 17,839,237 shares of the basic materials company’s stock valued at $871,447,000 after buying an additional 8,370,273 shares in the last quarter. Geode Capital Management LLC raised its holdings in International Paper by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after acquiring an additional 99,720 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of International Paper by 125.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock worth $206,921,000 after acquiring an additional 2,354,341 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of International Paper by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,579,679 shares of the basic materials company’s stock worth $174,867,000 after acquiring an additional 9,774 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of International Paper by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,295,926 shares of the basic materials company’s stock valued at $161,006,000 after purchasing an additional 537,825 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Up 0.2 %

NYSE IP opened at $55.21 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $55.25 and its two-hundred day simple moving average is $49.59. International Paper has a twelve month low of $32.70 and a twelve month high of $60.36. The company has a market capitalization of $19.18 billion, a price-to-earnings ratio of 47.19 and a beta of 1.02.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share 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 company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $0.64 EPS. International Paper’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Friday, November 15th. International Paper’s payout ratio is presently 158.12%.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $48.08, for a total transaction of $28,848.00. Following the transaction, the director now directly owns 38,945 shares in the company, valued at $1,872,475.60. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $158,904 in the last 90 days. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on IP shares. Royal Bank of Canada raised their target price on International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. Finally, BNP Paribas cut shares of International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 target price on the stock. in a research note on Wednesday, November 13th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.54.

International Paper 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.