Public Sector Pension Investment Board Purchases 29,735 Shares of International Paper Company $IP

Public Sector Pension Investment Board raised its holdings in International Paper Company (NYSE:IP - Free Report) by 64.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,572 shares of the basic materials company's stock after acquiring an additional 29,735 shares during the quarter. Public Sector Pension Investment Board's holdings in International Paper were worth $4,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AIA Group Ltd bought a new position in International Paper in the first quarter valued at approximately $2,589,000. CCM Investment Group LLC bought a new position in shares of International Paper during the first quarter worth $1,990,000. Nuveen LLC bought a new position in shares of International Paper during the first quarter worth $132,900,000. Invesco Ltd. boosted its position in shares of International Paper by 1.1% during the first quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company's stock worth $428,941,000 after purchasing an additional 85,732 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its position in shares of International Paper by 28.2% during the first quarter. Mizuho Securities USA LLC now owns 42,217 shares of the basic materials company's stock worth $2,252,000 after purchasing an additional 9,291 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Stock Up 2.2%

IP stock traded up $1.02 during midday trading on Thursday, hitting $48.03. The company's stock had a trading volume of 3,247,396 shares, compared to its average volume of 6,466,415. 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 Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company's fifty day moving average price is $49.13 and its 200 day moving average price is $49.88. The stock has a market capitalization of $25.36 billion, a P/E ratio of -480.30, a PEG ratio of 0.61 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The firm's quarterly revenue was up 42.9% on a year-over-year basis. As a group, equities research analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is presently -1,850.00%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent analyst reports. Truist Financial set a $59.00 price target on shares of International Paper in a research report on Wednesday, May 28th. JPMorgan Chase & Co. cut shares of 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. UBS Group initiated coverage on shares of International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective on the stock. Zacks Research lowered shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Wells Fargo & Company restated 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. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.46.

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.