Principal Financial Group Inc. Acquires 223,456 Shares of International Paper Company (NYSE:IP)

Principal Financial Group Inc. raised its stake in International Paper Company (NYSE:IP - Free Report) by 54.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 632,233 shares of the basic materials company's stock after purchasing an additional 223,456 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of International Paper worth $33,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IP. Picton Mahoney Asset Management raised its stake in International Paper by 67.0% during the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock worth $29,000 after acquiring an additional 215 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of International Paper during the fourth quarter valued at approximately $37,000. Citizens National Bank Trust Department acquired a new stake in shares of International Paper during the 1st quarter worth approximately $37,000. Transce3nd LLC bought a new stake in shares of International Paper in the 4th quarter worth approximately $38,000. Finally, Grove Bank & Trust boosted its position in International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 623 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Price Performance

Shares of NYSE:IP traded up $0.84 on Wednesday, reaching $51.44. 4,364,563 shares of the company traded hands, compared to its average volume of 3,158,745. The stock has a market capitalization of $27.16 billion, a PE ratio of 43.97, a P/E/G ratio of 0.47 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96. The company's 50 day moving average is $47.44 and its 200-day moving average is $51.06. International Paper Company has a fifty-two week low of $42.26 and a fifty-two week high of $60.36.

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

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a yield of 3.60%. International Paper's dividend payout ratio (DPR) is currently 158.12%.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer directly owned 31,525 shares of the company's stock, valued at approximately $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IP shares. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. started coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 price objective on the stock. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Finally, 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 objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $54.54.

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.