International Paper Company (NYSE:IP) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in International Paper Company (NYSE:IP - Free Report) by 54.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 632,233 shares of the basic materials company's stock after buying an additional 223,456 shares during the period. Principal Financial Group Inc. owned about 0.12% of International Paper worth $33,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its position in shares of International Paper by 52.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 45,344 shares of the basic materials company's stock worth $2,419,000 after buying an additional 15,520 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of International Paper in the 1st quarter worth about $3,888,000. First Horizon Advisors Inc. lifted its holdings in International Paper by 65.4% in the 1st quarter. First Horizon Advisors Inc. now owns 5,248 shares of the basic materials company's stock valued at $280,000 after purchasing an additional 2,075 shares in the last quarter. Private Trust Co. NA lifted its holdings in International Paper by 16.3% in the 1st quarter. Private Trust Co. NA now owns 5,124 shares of the basic materials company's stock valued at $273,000 after purchasing an additional 719 shares in the last quarter. Finally, Rossby Financial LCC purchased a new position in International Paper in the 1st quarter valued at about $77,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Up 0.1%

Shares of NYSE IP traded up $0.06 on Friday, reaching $52.47. 6,329,691 shares of the company traded hands, compared to its average volume of 3,290,962. The company has a 50 day moving average of $47.73 and a 200 day moving average of $51.05. The stock has a market capitalization of $27.70 billion, a PE ratio of 44.85, a P/E/G ratio of 0.48 and a beta of 1.02. International Paper Company has a fifty-two week low of $42.73 and a fifty-two week high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. On average, equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Friday, May 23rd. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the sale, the chief accounting officer owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

IP has been the topic of a number of recent research reports. UBS Group initiated coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. began coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, International Paper has a consensus rating of "Hold" and an average price target of $55.65.

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.