Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New Investment in International Paper Company (NYSE:IP)

Key Points

• Arrowpoint Investment Partners has acquired a new stake in International Paper Company, purchasing 5,730 shares valued at approximately $306,000 in the first quarter.
• International Paper's stock has received mixed ratings from analysts, with recent target prices ranging from $43.00 to $60.00.
• The company announced a quarterly dividend of $0.4625 per share, resulting in an annualized dividend yield of 3.8%.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in International Paper Company (NYSE:IP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,730 shares of the basic materials company's stock, valued at approximately $306,000.

A number of other hedge funds have also bought and sold shares of the business. Cerity Partners LLC increased its position in shares of International Paper by 8.2% during the 4th quarter. Cerity Partners LLC now owns 41,175 shares of the basic materials company's stock valued at $2,139,000 after purchasing an additional 3,125 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in International Paper in the 4th quarter worth approximately $21,307,000. Sterling Capital Management LLC increased its holdings in International Paper by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 20,533 shares of the basic materials company's stock worth $1,105,000 after acquiring an additional 7,325 shares in the last quarter. Townsquare Capital LLC increased its holdings in International Paper by 69.2% in the 4th quarter. Townsquare Capital LLC now owns 11,646 shares of the basic materials company's stock worth $627,000 after acquiring an additional 4,765 shares in the last quarter. Finally, SageView Advisory Group LLC increased its holdings in International Paper by 21.7% in the 4th quarter. SageView Advisory Group LLC now owns 13,502 shares of the basic materials company's stock worth $727,000 after acquiring an additional 2,404 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Down 2.3%

IP stock traded down $1.12 during midday trading on Friday, reaching $46.64. The company's stock had a trading volume of 3,522,576 shares, compared to its average volume of 6,545,750. 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 stock has a fifty day simple moving average of $49.17 and a two-hundred day simple moving average of $50.17. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of -466.40, a PEG ratio of 0.61 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business's quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. On average, equities research analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IP. Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price objective (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. JPMorgan Chase & Co. lowered shares of International Paper from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. UBS Group initiated coverage on shares of International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.