215,587 Shares in International Paper Company $IP Bought by Korea Investment CORP

Key Points

• Korea Investment CORP bought 215,587 shares of International Paper during the second quarter, valued at approximately $8.2 million. Institutional investors and hedge funds collectively own 81.95% of the company.
• Analyst sentiment remains positive overall, with nine Buy ratings, four Holds, and one Sell; International Paper has a “Moderate Buy” consensus rating and a $48.75 average price target.
• International Paper reported quarterly EPS of $0.04, beating estimates, although revenue fell 11.3% year over year to $6 billion. The company declared a quarterly dividend of $0.4625 per share, representing a 4.5% annualized yield.

Korea Investment CORP purchased a new position in International Paper Company (NYSE:IP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 215,587 shares of the basic materials company's stock, valued at approximately $8,214,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IP. DNB Asset Management AS raised its stake in International Paper by 144.2% during the 4th quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company's stock valued at $10,199,000 after purchasing an additional 152,907 shares during the period. D.A. Davidson & CO. boosted its position in shares of International Paper by 29.6% in the first quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company's stock worth $4,921,000 after buying an additional 31,518 shares during the period. Bellwether Advisors LLC purchased a new position in shares of International Paper during the first quarter valued at $2,615,000. Norges Bank purchased a new position in shares of International Paper during the fourth quarter valued at $250,093,000. Finally, Franklin Resources Inc. raised its position in International Paper by 81.6% during the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company's stock valued at $584,270,000 after buying an additional 6,663,986 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

Insider Activity

In other news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer owned 34,248 shares of the company's stock, valued at approximately $1,437,046.08. This trade represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the sale, the vice president owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of International Paper from a "hold" rating to a "sell" rating in a research report on Tuesday. Bank of America downgraded shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a research report on Tuesday, July 14th. Truist Financial reiterated a "buy" rating and issued a $49.00 target price (up from $46.00) on shares of International Paper in a research report on Friday, July 31st. Citigroup increased their target price on shares of International Paper from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, UBS Group boosted their price target on shares of International Paper from $40.00 to $47.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.75.

International Paper Trading Down 1.1%

Shares of IP stock opened at $41.03 on Tuesday. The firm has a market capitalization of $21.73 billion, a P/E ratio of -6.29 and a beta of 0.94. International Paper Company has a 1 year low of $29.26 and a 1 year high of $50.25. The firm's fifty day simple moving average is $39.30 and its 200 day simple moving average is $37.90. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the business posted $0.20 EPS. The business's quarterly revenue was down 11.3% on a year-over-year basis. As a group, sell-side analysts predict that International Paper Company will post 1.34 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, August 14th. International Paper's payout ratio is currently -28.37%.

International Paper 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.

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