Thrivent Financial for Lutherans Boosts Stake in International Paper Company $IP

Thrivent Financial for Lutherans raised its holdings in International Paper Company (NYSE:IP) by 30.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,067 shares of the basic materials company’s stock after acquiring an additional 34,293 shares during the period. Thrivent Financial for Lutherans’ holdings in International Paper were worth $6,840,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in International Paper in the second quarter valued at approximately $281,735,000. Price T Rowe Associates Inc. MD increased its holdings in shares of International Paper by 8.8% in 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 buying an additional 4,201,422 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of International Paper by 230.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company’s stock valued at $211,543,000 after buying an additional 2,763,634 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of International Paper by 78.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company’s stock worth $259,310,000 after acquiring an additional 2,143,027 shares during the last quarter. Finally, M&G PLC grew its position in International Paper by 165.9% in the second quarter. M&G PLC now owns 3,220,070 shares of the basic materials company’s stock worth $150,553,000 after acquiring an additional 2,009,123 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $38.61 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.31 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $40.63 and its 200 day simple moving average is $45.59. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of -14.79, a PEG ratio of 1.22 and a beta of 1.09. International Paper Company has a 1 year low of $35.56 and a 1 year high of $60.15.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). International Paper had a negative net margin of 5.45% and a negative return on equity of 0.16%. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same period last year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 56.4% compared to the same quarter last year. As a group, analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.8%. International Paper’s dividend payout ratio (DPR) is presently -70.88%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BNP Paribas Exane upgraded International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, November 24th. Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Royal Bank Of Canada set a $55.00 target price on International Paper and gave the stock an “outperform” rating in a research note on Thursday. BNP Paribas upgraded shares of International Paper from a “strong sell” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, November 24th. Finally, Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.25.

Insider Activity

In other news, SVP Clay R. Ellis sold 18,819 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

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.