Curi RMB Capital LLC Acquires 185,798 Shares of International Paper Company $IP

Key Points

• Curi RMB Capital LLC increased its holdings in International Paper Company by 116.4% during the first quarter, owning a total of 345,376 shares valued at approximately $18.4 million as of its latest SEC filing.
• Other institutional investors, including Vanguard Group and JPMorgan Chase, also significantly increased their positions in International Paper, reflecting growing institutional interest in the company.
• International Paper's recent earnings report showed a miss on EPS estimates, with a reported $0.20 per share against a consensus of $0.38, despite revenue growing 42.9% year-over-year to $6.77 billion.

Curi RMB Capital LLC lifted its holdings in International Paper Company (NYSE:IP - Free Report) by 116.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 345,376 shares of the basic materials company's stock after buying an additional 185,798 shares during the period. Curi RMB Capital LLC owned approximately 0.07% of International Paper worth $18,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IP. Vanguard Group Inc. lifted its stake in International Paper by 52.0% in 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 purchasing an additional 21,428,455 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in International Paper by 8.8% in the first 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in International Paper by 19.4% in the first 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. JPMorgan Chase & Co. lifted its stake in International Paper by 21.4% in the first quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company's stock valued at $481,203,000 after purchasing an additional 1,590,137 shares during the last quarter. Finally, Invesco Ltd. lifted 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 acquiring an additional 85,732 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Price Performance

IP traded down $1.35 during midday trading on Monday, hitting $47.34. The stock had a trading volume of 4,907,259 shares, compared to its average volume of 6,292,493. The company has a market cap of $24.99 billion, a P/E ratio of -473.40, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. The business has a fifty day moving average of $49.72 and a 200 day moving average of $49.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a 1 year low of $43.27 and a 1 year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its 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). The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm's quarterly revenue was up 42.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. As a group, equities analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio (DPR) is -1,850.00%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IP shares. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and increased their target price for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. UBS Group started coverage on International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Truist Financial set a $59.00 target price on International Paper in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $55.65.

About International Paper

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.