International Paper Company $IP Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in International Paper Company (NYSE:IP) by 81.6% in the fourth quarter, HoldingsChannel reports. The firm owned 14,832,952 shares of the basic materials company’s stock after acquiring an additional 6,663,986 shares during the quarter. Franklin Resources Inc.’s holdings in International Paper were worth $584,270,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. McIlrath & Eck LLC raised its position in International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after buying an additional 344 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in shares of International Paper during the third quarter worth approximately $36,000. MCF Advisors LLC raised its holdings in International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in International Paper in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other news, Director Anders Gustafsson bought 13,217 shares of International Paper stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $37.83 per share, with a total value of $499,999.11. Following the acquisition, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This trade represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Tozier purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the purchase, the director directly owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 36,092 shares of company stock worth $1,313,064 in the last quarter. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of International Paper from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Weiss Ratings downgraded shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Truist Financial cut their price target on International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada decreased their price target on International Paper from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $43.73.

International Paper Stock Down 2.3%

IP stock opened at $32.83 on Tuesday. The stock has a market cap of $17.39 billion, a P/E ratio of -5.16 and a beta of 0.96. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. International Paper Company has a twelve month low of $29.26 and a twelve month high of $56.13. The company’s 50 day moving average is $33.69 and its two-hundred day moving average is $38.36.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Research analysts expect that International Paper Company will post 1.38 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.85 annualized dividend and a dividend yield of 5.6%. International Paper’s dividend payout ratio (DPR) is presently -29.09%.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.