USS Investment Management Ltd Purchases 17,980 Shares of International Paper Company $IP

Key Points

• USS Investment Management Ltd increased its holdings in International Paper Company by 404.5% in Q1, now owning 22,425 shares valued at approximately $1.2 million.
• International Paper reported $0.20 earnings per share for the last quarter, missing expectations, while its revenue increased 42.9% year-over-year.
• The company announced a quarterly dividend of $0.4625, reflecting a 3.9% dividend yield, scheduled for payment on September 16th.

USS Investment Management Ltd grew its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 404.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 22,425 shares of the basic materials company's stock after acquiring an additional 17,980 shares during the quarter. USS Investment Management Ltd's holdings in International Paper were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC boosted its position in International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock worth $25,000 after acquiring an additional 346 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of International Paper during the first quarter worth $34,000. Bernard Wealth Management Corp. acquired a new stake in shares of International Paper during the fourth quarter worth $37,000. Citizens National Bank Trust Department acquired a new stake in shares of International Paper during the first quarter worth $37,000. Finally, Grove Bank & Trust grew its holdings in shares of International Paper by 472.0% during 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. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research analyst reports. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 price target (up previously from $40.00) on shares of International Paper in a report on Thursday, July 10th. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Truist Financial set a $59.00 price objective on 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 report on Friday, June 27th. Finally, UBS Group initiated coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $55.65.

International Paper Price Performance

Shares of IP traded down $0.52 during mid-day trading on Friday, reaching $46.01. The company had a trading volume of 2,883,451 shares, compared to its average volume of 3,438,739. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. 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 company's 50-day moving average is $49.43 and its 200-day moving average is $48.92. The company has a market capitalization of $24.29 billion, a P/E ratio of -460.10, a P/E/G ratio of 0.52 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm's revenue was up 42.9% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Friday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio (DPR) is currently -1,850.00%.

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.