Franklin Resources Inc. Has $228.63 Million Stock Position in International Paper (NYSE:IP)

Franklin Resources Inc. lessened its stake in International Paper (NYSE:IP) by 25.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,248,032 shares of the basic materials company’s stock after selling 1,476,558 shares during the quarter. Franklin Resources Inc. owned 1.22% of International Paper worth $228,629,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IP. Vanguard Group Inc. raised its position in International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after buying an additional 340,383 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after purchasing an additional 99,720 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock worth $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Norges Bank acquired a new position in International Paper during the fourth quarter worth $109,201,000. Finally, Artemis Investment Management LLP grew its position in International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after purchasing an additional 1,202,632 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated 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. 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. Bank of America assumed coverage on International Paper in a research report on Thursday, February 13th. They set a “neutral” rating on the stock. Citigroup began coverage on shares of International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Finally, StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Price Performance

Shares of IP opened at $53.62 on Wednesday. The firm has a market capitalization of $28.21 billion, a PE ratio of 34.15, a PEG ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The company’s 50-day moving average is $54.69 and its 200-day moving average is $53.83. International Paper has a fifty-two week low of $33.16 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. Equities analysts forecast that International Paper will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Monday, February 24th. International Paper’s dividend payout ratio is 117.83%.

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.