Principal Financial Group Inc. Has $20.41 Million Stock Position in International Paper (NYSE:IP)

Principal Financial Group Inc. lifted its holdings in shares of International Paper (NYSE:IP) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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. owned 0.12% of International Paper worth $20,412,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Brooklyn Investment Group bought a new position in International Paper during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of International Paper during the third quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in International Paper during the third quarter worth $28,000. Innealta Capital LLC acquired a new position in International Paper in the second quarter valued at $26,000. Finally, Eastern Bank bought a new stake in International Paper during the third quarter valued at $40,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $61.00 price objective (up from $57.00) on shares of International Paper in a research note on Friday, November 1st. BNP Paribas lowered International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada raised their price objective on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.54.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $48.08, for a total value of $28,848.00. Following the completion of the sale, the director now owns 38,945 shares in the company, valued at approximately $1,872,475.60. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 3,000 shares of company stock valued at $158,904. 0.55% of the stock is owned by insiders.

International Paper Stock Performance

Shares of IP stock opened at $55.21 on Friday. International Paper has a 12 month low of $32.70 and a 12 month high of $60.36. The firm has a market capitalization of $19.18 billion, a PE ratio of 47.19 and a beta of 1.02. The firm has a fifty day simple moving average of $55.25 and a two-hundred day simple moving average of $49.59. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

International Paper (NYSE:IP) last posted 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. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. Analysts forecast that International Paper will post 1.18 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 15th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.85 annualized dividend and a yield of 3.35%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

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.