PGGM Investments Purchases Shares of 7,011 International Paper (NYSE:IP)

PGGM Investments acquired a new position in shares of International Paper (NYSE:IP) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,011 shares of the basic materials company’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IP. Price T Rowe Associates Inc. MD grew its stake in International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares during the period. Franklin Resources Inc. lifted its holdings in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after acquiring an additional 4,960,005 shares in the last quarter. Bank of New York Mellon Corp boosted its position in International Paper by 82.8% during the 1st quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock worth $237,336,000 after purchasing an additional 2,755,441 shares during the period. Norges Bank acquired a new stake in International Paper in the 4th quarter valued at $94,913,000. Finally, ING Groep NV raised its position in International Paper by 74.2% in the fourth quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock valued at $29,952,000 after purchasing an additional 352,934 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 1.5 %

NYSE:IP opened at $45.94 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 93.76 and a beta of 1.06. International Paper has a one year low of $31.76 and a one year high of $47.40. The stock has a 50-day simple moving average of $45.06 and a 200 day simple moving average of $39.78.

International Paper (NYSE:IP) last issued its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. The company had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. Sell-side analysts predict that International Paper will post 1.64 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.03%. International Paper’s payout ratio is 377.55%.

Analyst Ratings Changes

Several brokerages have recently weighed in on IP. Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Stifel Nicolaus began coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target for the company. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and raised their price objective for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.96.

Insiders Place Their Bets

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $44.58, for a total value of $26,748.00. Following the transaction, the director now owns 45,479 shares of the company’s stock, valued at $2,027,453.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 3,600 shares of company stock valued at $157,386. Company insiders own 0.55% of the company’s stock.

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.