International Paper Company $IP Shares Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. significantly increased its stake in International Paper Company by 380.8% during the first quarter, resulting in ownership of 33,846 shares valued at approximately $1.8 million.
• The company's quarterly earnings report revealed an EPS of $0.20, which fell short of analyst estimates, despite experiencing a 42.9% year-over-year revenue growth.
• International Paper announced a quarterly dividend of $0.4625 per share, representing an annual yield of 3.8%, but also reported a remarkably high payout ratio of -1,850.00%.

Candriam S.C.A. lifted its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 380.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 33,846 shares of the basic materials company's stock after acquiring an additional 26,807 shares during the period. Candriam S.C.A.'s holdings in International Paper were worth $1,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IP. First Trust Advisors LP increased its stake in International Paper by 125.8% during the 4th quarter. First Trust Advisors LP now owns 439,576 shares of the basic materials company's stock valued at $23,658,000 after purchasing an additional 244,875 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of International Paper by 6.6% during the fourth quarter. MML Investors Services LLC now owns 51,944 shares of the basic materials company's stock valued at $2,796,000 after buying an additional 3,195 shares during the last quarter. Dark Forest Capital Management LP increased its position in shares of International Paper by 88.6% in the 4th quarter. Dark Forest Capital Management LP now owns 11,310 shares of the basic materials company's stock valued at $609,000 after acquiring an additional 5,312 shares during the period. MGO One Seven LLC acquired a new position in shares of International Paper in the 4th quarter valued at $413,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in International Paper by 1.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,201,558 shares of the basic materials company's stock worth $64,668,000 after acquiring an additional 17,852 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. Bank of America upgraded shares of International Paper from a "neutral" rating to a "buy" rating and increased their price target for the stock from $55.00 to $57.00 in a report on Thursday. Zacks Research lowered shares of International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Finally, UBS Group began coverage on shares of International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $55.65.

International Paper Price Performance

Shares of IP traded up $0.68 during mid-day trading on Thursday, hitting $49.05. 1,869,441 shares of the company were exchanged, compared to its average volume of 6,378,608. The stock has a market cap of $25.90 billion, a price-to-earnings ratio of -490.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.04. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The company has a 50 day moving average of $49.37 and a 200-day moving average of $49.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33.

International Paper (NYSE:IP - Get Free Report) last posted 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). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The firm's revenue for the quarter was up 42.9% compared to the same quarter last year. Analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's payout ratio is presently -1,850.00%.

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.