Capital World Investors Boosts Stock Position in International Paper Company $IP

Capital World Investors boosted its holdings in International Paper Company (NYSE:IP) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,332,121 shares of the basic materials company’s stock after purchasing an additional 111,311 shares during the quarter. Capital World Investors’ holdings in International Paper were worth $249,422,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IP. Dynamic Technology Lab Private Ltd purchased a new position in International Paper in the first quarter valued at $249,000. Intech Investment Management LLC increased its holdings in International Paper by 100.5% in the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after buying an additional 16,055 shares during the last quarter. Cresset Asset Management LLC increased its holdings in International Paper by 20.8% in the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after buying an additional 2,981 shares during the last quarter. Jump Financial LLC increased its holdings in International Paper by 280.9% in the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after buying an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in International Paper by 8.0% in the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock valued at $1,580,000 after buying an additional 2,493 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Activity

In other International Paper news, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the purchase, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $31.30 per share, with a total value of $313,000.00. Following the purchase, the director directly owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 36,092 shares of company stock valued at $1,313,064 in the last quarter. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IP shares. Citigroup dropped their target price on International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Royal Bank Of Canada dropped their target price on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. BNP Paribas Exane dropped their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Truist Financial decreased their price objective on shares of International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

International Paper Price Performance

Shares of IP opened at $32.83 on Tuesday. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $56.13. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of -5.16 and a beta of 0.96. The firm has a 50-day simple moving average of $33.69 and a 200-day simple moving average of $38.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the company posted $0.17 EPS. International Paper’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts anticipate that International Paper Company will post 1.38 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, May 22nd. This represents a $1.85 annualized dividend and a dividend yield of 5.6%. International Paper’s dividend payout ratio is -29.09%.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.