Franklin Resources Inc. Buys 555,588 Shares of International Paper Company $IP

Franklin Resources Inc. lifted its stake in International Paper Company (NYSE:IP) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,458,949 shares of the basic materials company’s stock after purchasing an additional 555,588 shares during the period. Franklin Resources Inc. owned 1.41% of International Paper worth $349,303,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IP. Legal & General Group Plc raised its position in shares of International Paper by 5.4% during the second quarter. Legal & General Group Plc now owns 3,276,115 shares of the basic materials company’s stock worth $153,395,000 after acquiring an additional 167,124 shares during the last quarter. MAI Capital Management increased its position in International Paper by 3.0% in the second quarter. MAI Capital Management now owns 27,911 shares of the basic materials company’s stock worth $1,307,000 after purchasing an additional 814 shares during the period. DNB Asset Management AS raised its holdings in International Paper by 2.6% during the 2nd quarter. DNB Asset Management AS now owns 101,372 shares of the basic materials company’s stock worth $4,747,000 after purchasing an additional 2,553 shares during the last quarter. Swiss National Bank lifted its position in International Paper by 8.0% during the 2nd quarter. Swiss National Bank now owns 1,518,146 shares of the basic materials company’s stock valued at $71,095,000 after purchasing an additional 112,100 shares during the period. Finally, ABN AMRO Bank N.V. bought a new position in shares of International Paper in the 2nd quarter valued at about $9,423,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP stock opened at $37.65 on Friday. International Paper Company has a 12-month low of $35.56 and a 12-month high of $60.36. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of -376.50, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average of $43.48 and a 200-day moving average of $46.79.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business’s quarterly revenue was up 56.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. On average, equities research analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

Insider Activity

In related news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IP. Zacks Research lowered shares of International Paper from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Weiss Ratings cut shares of International Paper from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. UBS Group reduced their price target on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. JPMorgan Chase & Co. decreased their price objective on International Paper from $54.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Wells Fargo & Company cut their target price on International Paper from $44.00 to $36.00 and set an “underweight” rating on the stock in a research note on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, International Paper presently has an average rating of “Hold” and a consensus target price of $50.92.

About International Paper

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.