Royal Bank of Canada Grows Stock Holdings in International Paper Company $IP

Key Points

• Royal Bank of Canada increased its stake in International Paper Company by 2.2%, owning about 4.7 million shares valued at approximately $251.6 million.
• The company announced a quarterly dividend of $0.4625 per share, representing an annualized yield of 3.7%, with the payment date set for September 16th.
• International Paper reported earnings per share (EPS) of $0.20 for the last quarter, missing estimates, despite a 42.9% increase in revenue year-over-year, totaling $6.77 billion.

Royal Bank of Canada boosted its stake in shares of International Paper Company (NYSE:IP - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,715,211 shares of the basic materials company's stock after purchasing an additional 103,628 shares during the period. Royal Bank of Canada owned approximately 0.89% of International Paper worth $251,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Greenleaf Trust grew its position in International Paper by 2.5% during the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock worth $493,000 after purchasing an additional 224 shares during the period. Sequoia Financial Advisors LLC grew its position in International Paper by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock worth $480,000 after purchasing an additional 231 shares during the period. Csenge Advisory Group grew its position in International Paper by 1.5% during the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock worth $867,000 after purchasing an additional 234 shares during the period. Capital Investment Advisors LLC grew its position in International Paper by 6.0% during the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock worth $223,000 after purchasing an additional 235 shares during the period. Finally, Wimmer Associates 1 LLC grew its position in International Paper by 3.8% during the 4th quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock worth $401,000 after purchasing an additional 270 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Price Performance

IP stock traded up $0.32 during trading on Friday, hitting $48.63. The stock had a trading volume of 2,605,843 shares, compared to its average volume of 3,491,029. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The stock has a market capitalization of $25.68 billion, a P/E ratio of -486.30, a PEG ratio of 0.55 and a beta of 1.05. The company's 50-day moving average price is $49.72 and its two-hundred day moving average price is $49.33.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data 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). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company's quarterly revenue was up 42.9% on a year-over-year basis. As a group, research analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

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

Wall Street Analysts Forecast Growth

IP has been the topic of several analyst reports. Bank of America raised International Paper from a "neutral" rating to a "buy" rating and increased their price target for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, UBS Group initiated coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $55.65.

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.