Gotham Asset Management LLC Buys 45,299 Shares of International Paper Company $IP

Key Points

• Gotham Asset Management LLC increased its stake in International Paper Company by 14.2%, owning 364,030 shares valued at $19.42 million as of the end of the last quarter.
• Analysts have varied opinions on the stock, with a range of target prices from $54.00 to $60.00, and ratings including five "Buy", one "Hold", and three "Sell".
• International Paper declared a quarterly dividend of $0.4625 per share, translating to an annualized yield of 3.8%, despite having a negative payout ratio of -1,850.00%.

Gotham Asset Management LLC increased its position in shares of International Paper Company (NYSE:IP - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 364,030 shares of the basic materials company's stock after acquiring an additional 45,299 shares during the period. Gotham Asset Management LLC owned about 0.07% of International Paper worth $19,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IP. Zions Bancorporation National Association UT acquired a new stake in International Paper in the first quarter valued at approximately $34,000. Bernard Wealth Management Corp. acquired a new stake in International Paper in the fourth quarter valued at approximately $37,000. Citizens National Bank Trust Department acquired a new stake in International Paper in the first quarter valued at approximately $37,000. Grove Bank & Trust boosted its position in International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after buying an additional 623 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in International Paper in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IP shares. Truist Financial set a $59.00 price target on shares of International Paper in a research note on Wednesday, May 28th. Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 18th. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group initiated coverage on shares of International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price for the company. Finally, JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, International Paper currently has a consensus rating of "Hold" and an average price target of $55.65.

International Paper Stock Down 1.1%

Shares of NYSE:IP traded down $0.53 during midday trading on Tuesday, hitting $46.88. 3,242,921 shares of the company's stock were exchanged, compared to its average volume of 6,274,665. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The stock has a 50 day moving average price of $49.73 and a 200-day moving average price of $49.17. The company has a market cap of $24.75 billion, a PE ratio of -468.80, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted 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). The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company's revenue was up 42.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. On average, sell-side analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. 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.