Goldman Sachs Group Inc. Has $259.31 Million Position in International Paper Company $IP

Key Points

• Goldman Sachs Group Inc. increased its stake in International Paper Company by 78.9%, acquiring an additional 2,143,027 shares, bringing its total holdings to 4,860,535 shares worth approximately $259 million.
• Other major investors, such as Vanguard Group and JPMorgan Chase, also significantly increased their holdings in International Paper during the same period, reflecting strong institutional interest with 81.95% of shares owned by institutional investors.
• International Paper reported a letdown in earnings for the last quarter, with an EPS of $0.20, which fell short of the expected $0.38, despite a revenue increase of 42.9% year-over-year.

Goldman Sachs Group Inc. increased its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 78.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,860,535 shares of the basic materials company's stock after buying an additional 2,143,027 shares during the period. Goldman Sachs Group Inc. owned 0.92% of International Paper worth $259,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IP. Ethic Inc. raised its stake in shares of International Paper by 35.4% during the fourth quarter. Ethic Inc. now owns 22,457 shares of the basic materials company's stock worth $1,209,000 after buying an additional 5,870 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of International Paper by 4.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 116,406 shares of the basic materials company's stock worth $6,265,000 after buying an additional 4,555 shares during the last quarter. Lighthouse Investment Partners LLC raised its stake in shares of International Paper by 93.5% during the fourth quarter. Lighthouse Investment Partners LLC now owns 139,685 shares of the basic materials company's stock worth $7,518,000 after buying an additional 67,503 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of International Paper by 5.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,742 shares of the basic materials company's stock worth $23,129,000 after buying an additional 21,127 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of International Paper by 20.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 13,793 shares of the basic materials company's stock worth $742,000 after buying an additional 2,339 shares during the last quarter. 81.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group assumed coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price for the company. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $43.00 target price (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, International Paper has an average rating of "Hold" and a consensus price target of $55.65.

International Paper Stock Down 1.1%

Shares of IP stock traded down $0.52 during trading hours on Friday, hitting $46.01. 2,883,451 shares of the company were exchanged, compared to its average volume of 3,470,695. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36. The business has a 50 day moving average of $49.43 and a two-hundred day moving average of $49.01. The company has a market capitalization of $24.29 billion, a PE ratio of -460.10, a PEG ratio of 0.53 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

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

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.0%. 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.