AIA Group Ltd Invests $2.59 Million in International Paper Company (NYSE:IP)

Key Points

• AIA Group Ltd has acquired a new stake in International Paper Company, purchasing 48,526 shares valued at approximately $2.59 million in the first quarter.
• International Paper reported earnings of $0.20 per share for the last quarter, falling short of the consensus estimate of $0.38, despite a year-over-year revenue increase of 42.9%.
• The company announced a quarterly dividend of $0.4625 per share, leading to an annualized dividend of $1.85 and a dividend yield of 3.9%.

AIA Group Ltd acquired a new stake in shares of International Paper Company (NYSE:IP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 48,526 shares of the basic materials company's stock, valued at approximately $2,589,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in shares of International Paper in the first quarter valued at $34,000. Bernard Wealth Management Corp. acquired a new position in International Paper during the fourth quarter valued at $37,000. Transce3nd LLC acquired a new position in International Paper during the fourth quarter valued at $38,000. Citizens National Bank Trust Department purchased a new position in International Paper in the first quarter valued at about $37,000. Finally, Grove Bank & Trust grew its stake in International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Price Performance

Shares of IP stock traded down $1.12 during trading on Friday, hitting $46.64. The company had a trading volume of 3,522,576 shares, compared to its average volume of 5,337,198. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a market capitalization of $24.62 billion, a P/E ratio of -466.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.04. The stock's 50-day moving average price is $49.16 and its 200 day moving average price is $50.09. International Paper Company has a one year low of $43.27 and a one year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm's revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Equities analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper's payout ratio is currently -1,850.00%.

Analyst Upgrades and Downgrades

IP has been the subject of several recent analyst reports. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Truist Financial set a $59.00 target price on International Paper in a research note on Wednesday, May 28th. UBS Group initiated coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, International Paper has an average rating of "Hold" and a consensus target price of $55.46.

International Paper Profile

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.