Northern Trust Corp Purchases 1,499,481 Shares of International Paper Company $IP

Key Points

• Northern Trust Corp increased its stake in International Paper Company by 42.3% during the first quarter, now holding about 0.96% of the company valued at $268.97 million.
• The company reported earnings of $0.20 per share for the last quarter, missing analyst estimates of $0.38, while revenue increased to $6.77 billion.
• International Paper announced a quarterly dividend of $0.4625, representing a 3.9% dividend yield, despite a -1,850.00% dividend payout ratio.

Northern Trust Corp lifted its position in shares of International Paper Company (NYSE:IP - Free Report) by 42.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,041,692 shares of the basic materials company's stock after acquiring an additional 1,499,481 shares during the quarter. Northern Trust Corp owned approximately 0.96% of International Paper worth $268,974,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in International Paper in the first quarter valued at about $34,000. Bernard Wealth Management Corp. bought a new stake in International Paper during the fourth quarter worth about $37,000. Citizens National Bank Trust Department bought a new stake in International Paper in the first quarter valued at approximately $37,000. Transce3nd LLC bought a new stake in International Paper in the fourth quarter valued at approximately $38,000. Finally, Grove Bank & Trust raised its stake in International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after buying an additional 623 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Price Performance

Shares of IP traded down $0.50 during trading hours on Tuesday, reaching $48.89. The stock had a trading volume of 824,116 shares, compared to its average volume of 6,407,440. The stock has a market capitalization of $25.81 billion, a PE ratio of -488.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company's 50-day moving average is $49.27 and its two-hundred day moving average is $49.68.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm's revenue for the quarter was up 42.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. Research analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.8%. International Paper's dividend payout ratio (DPR) is -1,850.00%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wells Fargo & Company reissued an "underweight" rating and set a $43.00 price target (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. UBS Group began coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target on the stock. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Zacks Research downgraded International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, International Paper has a consensus rating of "Hold" and a consensus target price of $55.46.

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.