Alps Advisors Inc. Purchases New Stake in International Paper Company $IP

Key Points

• Alps Advisors purchased 855,604 International Paper shares in the third quarter, worth about $28.4 million and representing roughly 0.16% of the company. Institutional investors collectively own 81.95% of its stock.
• Analyst views are mixed, but MarketBeat’s consensus rating is Moderate Buy, with an average price target of $45.44. Ten analysts rate the stock Buy, three Hold, and one Sell.
• International Paper beat quarterly EPS expectations, reporting $0.37 versus a $0.29 consensus, though revenue of $6.20 billion fell short of estimates. The company declared a quarterly dividend of $0.4625 per share, equivalent to a 5.4% annualized yield.

Alps Advisors Inc. bought a new position in International Paper Company (NYSE:IP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 855,604 shares of the basic materials company's stock, valued at approximately $28,380,000. Alps Advisors Inc. owned approximately 0.16% of International Paper as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of International Paper during the 2nd quarter valued at $1,940,896,000. Bank of New York Mellon Corp purchased a new stake in International Paper during the second quarter worth $689,498,000. Atlas FRM LLC purchased a new position in shares of International Paper during the 2nd quarter worth $374,904,000. Hill City Capital LP acquired a new position in International Paper during the 2nd quarter worth $194,310,000. Finally, Bank of America Corp DE acquired a new position in International Paper in the second quarter valued at $142,802,000. Institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

IP has been the topic of several analyst reports. Weiss Ratings cut International Paper from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, October 8th. Truist Financial reaffirmed a "buy" rating and set a $39.00 target price (down from $41.00) on shares of International Paper in a report on Thursday, October 29th. UBS Group lowered their price target on International Paper from $47.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Royal Bank Of Canada raised their price objective on International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, Bank of America restated a "buy" rating on shares of International Paper in a report on Thursday, October 29th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.44.

International Paper Stock Performance

NYSE:IP opened at $34.54 on Friday. The company's 50-day moving average price is $34.38 and its 200-day moving average price is $37.24. The company has a current ratio of 1.01, a quick ratio of 0.77 and a debt-to-equity ratio of 0.59. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25. The company has a market cap of $18.29 billion, a P/E ratio of -5.27, a P/E/G ratio of 5.42 and a beta of 0.97.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $6.20 billion for the quarter, compared to analysts' expectations of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) EPS. On average, sell-side analysts forecast that International Paper Company will post 1.13 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.4625 per share. The ex-dividend date is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.4%. International Paper's payout ratio is currently -28.20%.

About International Paper

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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