This transaction was disclosed in a filing with the Securities and Exchange Commission (SEC). **Key Points:**
* **Insider Sale:** Joseph R. Saab, SVP of International Paper, sold a significant portion of his stock holdings.
Get International Paper alerts: International Paper (NYSE:IP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. As a group, research analysts anticipate that International Paper will post 1.55 earnings per share for the current year.
International Paper Dividend Announcement Institutional Investors Weigh In On International Paper The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is 377.55%. A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after acquiring an additional 8,132,332 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of International Paper by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after purchasing an additional 5,492,035 shares during the last quarter. Franklin Resources Inc. increased its holdings in International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after purchasing an additional 4,960,005 shares during the period. Massachusetts Financial Services Co. MA bought a new position in International Paper during the 2nd quarter worth $119,012,000. Finally, Norges Bank acquired a new position in International Paper during the 4th quarter worth about $94,913,000. Institutional investors own 81.95% of the company’s stock.
Stifel Nicolaus analysts believe that the company’s strong financial performance and its focus on sustainability will drive future growth. They also highlighted the company’s competitive position in the paper and packaging industry. In addition to Stifel Nicolaus, other analysts have also issued research reports about the company.
The company’s core business is the production of corrugated cardboard, which is a key component of packaging for various industries. International Paper’s commitment to sustainability is evident in its focus on renewable resources and responsible manufacturing practices. The company has implemented various initiatives to reduce its environmental footprint, including investing in renewable energy sources, reducing water consumption, and minimizing waste generation.