UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 1,010,526 Shares of International Paper Company $IP

Key Points

• UBS Asset Management increased its stake in International Paper by 47.3% in the first quarter, acquiring over 1 million additional shares, which positions UBS AM as a significant investor.
• International Paper recently announced a quarterly dividend of $0.4625, with a dividend yield of 4.0%, despite a negative payout ratio of -1,850.00% indicating losses.
• The company reported $0.20 EPS for Q2, missing analysts' expectations, while revenue grew significantly by 42.9% year-over-year to $6.77 billion.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 47.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,148,640 shares of the basic materials company's stock after acquiring an additional 1,010,526 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.60% of International Paper worth $167,980,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC grew its position in shares of International Paper by 306.3% during the 1st quarter. Empowered Funds LLC now owns 154,387 shares of the basic materials company's stock worth $8,237,000 after purchasing an additional 116,393 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of International Paper in the first quarter valued at approximately $313,000. Ascent Group LLC grew its position in International Paper by 6.5% during the first quarter. Ascent Group LLC now owns 55,141 shares of the basic materials company's stock worth $2,942,000 after buying an additional 3,349 shares in the last quarter. United Services Automobile Association bought a new position in International Paper during the 1st quarter worth $599,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in International Paper by 49.1% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,830 shares of the basic materials company's stock worth $364,000 after acquiring an additional 2,248 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and cut their target price for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Bank of America upgraded shares of International Paper from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $55.00 to $57.00 in a research note on Thursday, August 28th. Truist Financial set a $59.00 target price on shares of International Paper in a research report on Wednesday, May 28th. Finally, UBS Group assumed coverage on shares of International Paper in a report on Wednesday, June 4th. They set 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 given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, International Paper has an average rating of "Hold" and an average target price of $55.65.

International Paper Price Performance

International Paper stock traded down $0.52 during midday trading on Friday, reaching $46.01. The company's stock had a trading volume of 2,883,451 shares, compared to its average volume of 3,438,739. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $24.29 billion, a PE ratio of -460.10, a price-to-earnings-growth ratio of 0.52 and a beta of 1.05. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36. The business has a 50-day moving average price of $49.43 and a 200-day moving average price of $48.97.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The company's revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, sell-side analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper's dividend payout ratio is -1,850.00%.

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.