International Paper Company $IP Position Increased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its position in International Paper by 22.5% in Q2, acquiring an additional 14,966 shares, now holding a total of 81,356 shares valued at approximately $3.81 million.
• International Paper reported Q2 earnings of $0.20 per share, missing estimates of $0.38, despite a revenue of $6.77 billion which surpassed analyst expectations.
• The company recently declared a quarterly dividend of $0.4625 per share, yielding about 4.0% annually, although its payout ratio stands at an unusually high -1,850.00%.

Mirae Asset Global Investments Co. Ltd. raised its position in International Paper Company (NYSE:IP - Free Report) by 22.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,356 shares of the basic materials company's stock after purchasing an additional 14,966 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in International Paper were worth $3,810,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in International Paper by 52.0% during the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock valued at $3,340,966,000 after acquiring an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of International Paper by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company's stock valued at $2,763,426,000 after purchasing an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of International Paper by 19.4% in the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock valued at $914,712,000 after purchasing an additional 2,782,042 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of International Paper by 230.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company's stock valued at $211,543,000 after purchasing an additional 2,763,634 shares during the last quarter. Finally, Nuveen LLC acquired a new position in International Paper during the first quarter worth $132,900,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

Shares of NYSE IP opened at $45.90 on Tuesday. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company has a market cap of $24.23 billion, a P/E ratio of -459.00, a P/E/G ratio of 0.53 and a beta of 1.10. The business's 50 day moving average is $47.50 and its two-hundred day moving average is $48.28. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52.

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

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. International Paper's dividend payout ratio is currently -1,850.00%.

Insider Buying and Selling at International Paper

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares of the company's stock, valued at $1,259,951.69. This trade represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on IP shares. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Jefferies Financial Group decreased their target price on International Paper from $61.00 to $59.00 and set a "buy" rating for the company in a research report on Friday, September 26th. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and increased their price target for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Finally, UBS Group reduced their price objective on shares of International Paper from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, International Paper has a consensus rating of "Hold" and an average price target of $55.47.

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.

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