International Paper Company $IP Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of International Paper Company (NYSE:IP) by 14.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,877 shares of the basic materials company’s stock after purchasing an additional 2,634 shares during the quarter. Fifth Third Bancorp’s holdings in International Paper were worth $978,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of International Paper by 52.0% during the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock valued at $3,340,966,000 after acquiring an additional 21,428,455 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of International Paper by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after purchasing an additional 4,201,422 shares during the period. Bank of New York Mellon Corp boosted its position in shares of International Paper by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company’s stock worth $914,712,000 after purchasing an additional 2,782,042 shares during the period. JPMorgan Chase & Co. increased its holdings in International Paper by 21.4% in the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock valued at $481,203,000 after purchasing an additional 1,590,137 shares during the last quarter. Finally, Invesco Ltd. raised its position in International Paper by 1.1% in the first quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock valued at $428,941,000 after purchasing an additional 85,732 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of NYSE:IP opened at $45.32 on Monday. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36. The company’s 50 day moving average is $48.41 and its two-hundred day moving average is $48.51. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market cap of $23.93 billion, a PE ratio of -453.20, a P/E/G ratio of 0.51 and a beta of 1.05.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.International Paper’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period last year, the firm posted $0.55 earnings per share. Equities analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 15th. International Paper’s dividend payout ratio is currently -1,850.00%.

Wall Street Analyst Weigh In

IP has been the subject of several research analyst reports. Jefferies Financial Group lowered their price target on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Friday. UBS Group started coverage on International Paper in a research note on Wednesday, June 4th. They set a “buy” rating and a $60.00 target price on the stock. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 18th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $57.00 in a research note on Thursday, August 28th. Finally, Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.02.

Insider Activity at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

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.