IFM Investors Pty Ltd Increases Stock Holdings in International Paper Company $IP

Key Points

• IFM Investors Pty Ltd increased its stake in International Paper Company by 35.2%, owning a total of 82,677 shares worth approximately $4.41 million by the end of the 1st quarter.
• International Paper recently reported $0.20 EPS, missing analyst expectations of $0.38, while its revenue for the quarter was $6.77 billion, exceeding projections.
• The company announced a quarterly dividend of $0.4625 per share, representing an annualized dividend yield of 4.0%, with the ex-dividend date on August 15th.

IFM Investors Pty Ltd raised its stake in International Paper Company (NYSE:IP - Free Report) by 35.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 82,677 shares of the basic materials company's stock after purchasing an additional 21,545 shares during the quarter. IFM Investors Pty Ltd's holdings in International Paper were worth $4,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its holdings in shares of International Paper by 2.0% during the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company's stock valued at $751,000 after acquiring an additional 282 shares in the last quarter. Spire Wealth Management raised its holdings in shares of International Paper by 2,343.9% during the first quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock valued at $86,000 after acquiring an additional 1,547 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of 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 valued at $480,000 after acquiring an additional 231 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of International Paper by 37.3% during the first quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company's stock valued at $1,194,000 after acquiring an additional 6,077 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of International Paper by 78.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company's stock valued at $259,310,000 after acquiring an additional 2,143,027 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Stock Down 1.1%

Shares of NYSE:IP traded down $0.52 on Friday, hitting $46.01. 2,883,451 shares of the company traded hands, compared to its average volume of 3,438,739. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $49.43 and a 200-day simple moving average of $48.97. The company has a market cap of $24.29 billion, a PE ratio of -460.10, a PEG ratio of 0.52 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 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 for the quarter, compared to analysts' expectations of $6.64 billion. During the same period last year, the business earned $0.55 earnings per share. The company's quarterly revenue was up 42.9% on a year-over-year basis. As a group, research analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper's dividend payout ratio (DPR) is -1,850.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial set a $59.00 target price on International Paper in a report on Wednesday, May 28th. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and upped their target price for the company from $55.00 to $57.00 in a report on Thursday, August 28th. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up previously from $40.00) on shares of International Paper in a report on Thursday, July 10th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $55.65.

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.