International Paper Company $IP Shares Bought by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC increased its stake in International Paper Company by 20.6%, holding a total of 36,356 shares valued at approximately $1.94 million.
• Vanguard Group significantly expanded its investment in International Paper, growing its position by 52% to over 62 million shares valued at around $3.34 billion.
• While Bank of America upgraded International Paper to a "buy" rating, analysts have varied opinions with five rating it as a "buy" and three as a "sell", giving the stock an average rating of "hold" with a consensus price target of $55.65.

Rafferty Asset Management LLC raised its stake in International Paper Company (NYSE:IP - Free Report) by 20.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,356 shares of the basic materials company's stock after purchasing an additional 6,199 shares during the quarter. Rafferty Asset Management LLC's holdings in International Paper were worth $1,940,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Greenleaf Trust lifted its holdings in shares of International Paper by 2.5% in the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock valued at $493,000 after buying an additional 224 shares during the period. Sequoia Financial Advisors LLC raised its holdings in International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock worth $480,000 after purchasing an additional 231 shares during the last quarter. Csenge Advisory Group boosted its position in International Paper by 1.5% during the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock worth $867,000 after purchasing an additional 234 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in International Paper by 6.0% in the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 235 shares during the last quarter. Finally, Wimmer Associates 1 LLC increased its position in shares of International Paper by 3.8% in the fourth quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock valued at $401,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Down 0.5%

Shares of NYSE:IP traded down $0.26 during trading on Thursday, reaching $47.91. 1,859,547 shares of the stock were exchanged, compared to its average volume of 6,306,240. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The firm's 50-day moving average price is $49.66 and its 200 day moving average price is $49.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of -479.10, a price-to-earnings-growth ratio of 0.56 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share 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 quarter in the previous year, the firm posted $0.55 EPS. The business's revenue was up 42.9% compared to the same quarter last year. On average, sell-side analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

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

Analyst Upgrades and Downgrades

IP has been the subject of several recent research reports. Wells Fargo & Company restated an "underweight" rating and set a $43.00 target price (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Zacks Research downgraded International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Finally, Truist Financial set a $59.00 price objective on International Paper in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, International Paper currently has an average rating of "Hold" and a consensus target price of $55.65.

International Paper Company 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.