ING Groep NV Purchases New Holdings in International Paper Company (NYSE:IP)

ING Groep NV purchased a new stake in shares of International Paper Company (NYSE:IP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,874 shares of the basic materials company's stock, valued at approximately $580,000.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in International Paper by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock worth $2,561,651,000 after purchasing an additional 368,648 shares during the period. Capital Research Global Investors increased its position in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after buying an additional 12,191,361 shares in the last quarter. Bank of New York Mellon Corp raised its stake in International Paper by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock worth $914,712,000 after buying an additional 2,782,042 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in International Paper by 17.6% during the first quarter. Diamond Hill Capital Management Inc. now owns 4,958,177 shares of the basic materials company's stock worth $264,519,000 after acquiring an additional 740,932 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in International Paper by 134.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock valued at $212,522,000 after acquiring an additional 2,266,762 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

IP stock traded down $0.50 during trading hours on Friday, reaching $47.54. The stock had a trading volume of 3,280,271 shares, compared to its average volume of 5,359,361. The stock has a 50-day simple moving average of $49.11 and a 200 day simple moving average of $50.48. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The stock has a market capitalization of $25.10 billion, a PE ratio of -475.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (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 business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same period in the prior year, the business earned $0.55 EPS. The company's revenue for the quarter was up 42.9% compared to the same quarter last year. 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. Shareholders 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 yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio is currently -1,850.00%.

Wall Street Analysts Forecast Growth

IP has been the subject of several research analyst reports. UBS Group initiated coverage on International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective for the company. Truist Financial set a $59.00 price objective on shares of International Paper in a research report on Wednesday, May 28th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and cut their price target for the company from $55.00 to $54.00 in a report on Tuesday. Finally, Wells Fargo & Company reiterated 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $55.03.

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.