283,654 Shares in International Paper Company $IP Purchased by Eurizon Capital SGR S.p.A.

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new fourth-quarter stake in International Paper, buying 283,654 shares valued at about $11.17 million.
• International Paper reported Q1 earnings of $0.15 per share, missing estimates, while revenue came in at $5.97 billion versus expectations of $6.02 billion; however, revenue still rose 13.4% year over year.
• The company announced a quarterly dividend of $0.4625 per share to be paid June 12, implying an annualized dividend of $1.85 and a yield of about 5.5%.

Eurizon Capital SGR S.p.A. purchased a new stake in shares of International Paper Company (NYSE:IP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 283,654 shares of the basic materials company's stock, valued at approximately $11,174,000. Eurizon Capital SGR S.p.A. owned about 0.05% of International Paper at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC boosted its stake in International Paper by 4.2% during the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company's stock valued at $236,000 after buying an additional 242 shares during the last quarter. International Private Wealth Advisors LLC boosted its stake in International Paper by 4.1% during the fourth quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company's stock valued at $243,000 after buying an additional 243 shares during the last quarter. Independent Advisor Alliance boosted its stake in International Paper by 3.3% during the fourth quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company's stock valued at $305,000 after buying an additional 244 shares during the last quarter. Horizon Investments LLC boosted its stake in International Paper by 3.3% during the fourth quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company's stock valued at $333,000 after buying an additional 267 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in International Paper by 0.6% during the third quarter. Rafferty Asset Management LLC now owns 44,996 shares of the basic materials company's stock valued at $2,088,000 after buying an additional 268 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other International Paper news, Director Anders Gustafsson acquired 13,217 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the acquisition, the director directly owned 26,092 shares in the company, valued at $987,060.36. The trade was a 102.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Tozier acquired 10,000 shares of the company's stock in a transaction that occurred on 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 acquisition, the director owned 10,025 shares in the company, valued at $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 36,092 shares of company stock valued at $1,313,064. Company insiders own 0.21% of the company's stock.

International Paper Price Performance

Shares of International Paper stock opened at $33.47 on Monday. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of -5.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The stock has a 50 day moving average price of $33.91 and a 200-day moving average price of $38.53. International Paper Company has a one year low of $29.26 and a one year high of $56.13.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.03). The company had revenue of $5.97 billion during the quarter, compared to analysts' expectations of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.International Paper's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. Equities analysts expect that International Paper Company will post 1.38 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a $0.4625 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.5%. International Paper's payout ratio is -29.09%.

Analysts Set New Price Targets

IP has been the subject of a number of research reports. BNP Paribas Exane dropped their price target on International Paper from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. JPMorgan Chase & Co. dropped their price target on International Paper from $46.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Citigroup dropped their price target on International Paper from $44.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Wells Fargo & Company raised International Paper from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $38.00 to $39.00 in a research note on Monday, May 4th. Finally, Stifel Nicolaus dropped their price target on International Paper from $51.80 to $50.70 and set a "buy" rating for the company in a research note on Monday, February 9th. Nine investment 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's stock. Based on data from MarketBeat.com, International Paper has a consensus rating of "Moderate Buy" and a consensus target price of $43.73.

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.

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