Principal Financial Group Inc. Sells 67,391 Shares of International Paper (NYSE:IP)

Principal Financial Group Inc. decreased its holdings in International Paper (NYSE:IPGet Rating) by 11.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 522,558 shares of the basic materials company’s stock after selling 67,391 shares during the period. Principal Financial Group Inc.’s holdings in International Paper were worth $21,858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Desjardins Global Asset Management Inc. grew its position in shares of International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of International Paper in the second quarter valued at approximately $36,000. Tcwp LLC acquired a new position in shares of International Paper in the first quarter valued at approximately $49,000. Concord Wealth Partners grew its position in shares of International Paper by 38.0% in the second quarter. Concord Wealth Partners now owns 1,230 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 339 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its position in International Paper by 54.6% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,558 shares of the basic materials company’s stock worth $65,000 after buying an additional 550 shares in the last quarter. Institutional investors own 85.84% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, major shareholder Paper Co /New/ International sold 4,614,358 shares of International Paper stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.25, for a total transaction of $167,270,477.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Paper Co /New/ International sold 4,614,358 shares of International Paper stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $36.25, for a total transaction of $167,270,477.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Timothy S. Nicholls sold 7,500 shares of International Paper stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $33.66, for a total value of $252,450.00. Following the sale, the senior vice president now directly owns 101,897 shares in the company, valued at $3,429,853.02. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company lowered their price objective on International Paper from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, October 28th. KeyCorp decreased their price target on International Paper from $37.00 to $27.00 and set an “underweight” rating on the stock in a research report on Friday, September 30th. BMO Capital Markets decreased their price target on International Paper from $60.00 to $50.00 in a research report on Friday, October 28th. StockNews.com assumed coverage on International Paper in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Bank of America decreased their price target on International Paper from $46.00 to $37.00 in a research report on Thursday, October 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.44.

International Paper Stock Performance

International Paper stock opened at $35.77 on Monday. International Paper has a 12-month low of $30.69 and a 12-month high of $50.23. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $34.03 and its two-hundred day moving average price is $40.53. The stock has a market cap of $12.72 billion, a PE ratio of 6.81 and a beta of 0.99.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Monday, November 14th. International Paper’s dividend payout ratio is presently 35.24%.

International Paper Company Profile

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International Paper Company operates as a packaging company primarily in United States, the Middle East, Europe, Africa, Pacific Rim, Asia, and rest of the Americas. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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