Principal Financial Group Inc. Purchases 10,632 Shares of International Paper (NYSE:IP)

Principal Financial Group Inc. grew its position in International Paper (NYSE:IP) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.’s holdings in International Paper were worth $20,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in International Paper during the 2nd quarter worth about $26,000. Crewe Advisors LLC bought a new stake in International Paper during the first quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in International Paper during the second quarter valued at approximately $37,000. Eastern Bank bought a new position in International Paper in the third quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of International Paper during the 3rd quarter worth approximately $42,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at International Paper

In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares in the company, valued at $2,433,296.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $53.50, for a total transaction of $32,100.00. Following the completion of the transaction, the director now owns 38,345 shares of the company’s stock, valued at $2,051,457.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,840 shares of company stock valued at $910,826 in the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 1.6 %

Shares of NYSE:IP opened at $56.38 on Thursday. International Paper has a 12-month low of $31.76 and a 12-month high of $59.52. The business has a 50 day moving average of $49.78 and a 200-day moving average of $46.20. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The stock has a market cap of $19.59 billion, a PE ratio of 48.19 and a beta of 1.02.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.20. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. International Paper had a return on equity of 6.49% and a net margin of 2.25%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts forecast that International Paper will post 1.24 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio (DPR) is 158.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of International Paper from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price objective on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 14th. BNP Paribas cut International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target for the company. in a report on Wednesday. Finally, Truist Financial restated a “buy” rating and issued a $61.00 price objective (up previously from $57.00) on shares of International Paper in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.54.

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.