Ethic Inc. Raises Holdings in International Paper Company $IP

Key Points

• Ethic Inc. has increased its holdings in International Paper Company by 41.6% during the first quarter, owning a total of 31,794 shares valued at approximately $1.7 million.
• International Paper reported a loss of $0.18 per share compared to the consensus estimate during its latest earnings results, despite revenues increasing by 42.9% year-over-year.
• The company announced a quarterly dividend of $0.4625 per share, translating to an annualized dividend yield of 3.9%.

Ethic Inc. lifted its stake in shares of International Paper Company (NYSE:IP - Free Report) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,794 shares of the basic materials company's stock after purchasing an additional 9,337 shares during the quarter. Ethic Inc.'s holdings in International Paper were worth $1,706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IP. Zions Bancorporation National Association UT bought a new stake in shares of International Paper during the 1st quarter valued at $34,000. Bernard Wealth Management Corp. bought a new stake in shares of International Paper during the 4th quarter valued at $37,000. Citizens National Bank Trust Department bought a new stake in shares of International Paper during the 1st quarter valued at $37,000. Transce3nd LLC bought a new stake in shares of International Paper during the 4th quarter valued at $38,000. Finally, Grove Bank & Trust increased its stake in International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after acquiring an additional 623 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IP has been the topic of a number of research analyst reports. 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 research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company restated an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Zacks Research lowered International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $55.46.

International Paper Price Performance

Shares of IP traded up $0.91 during midday trading on Friday, reaching $48.94. The stock had a trading volume of 3,683,195 shares, compared to its average volume of 5,131,872. The company's 50-day moving average is $49.21 and its 200 day moving average is $49.80. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $25.84 billion, a price-to-earnings ratio of -489.40, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04.

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

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper's dividend 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.