International Paper Company $IP Stock Holdings Increased by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC increased its stake in International Paper Company by 120.1%, owning 202,342 shares valued at approximately $10.8 million following additional purchases.
• Other institutional investors, including Vanguard Group and T. Rowe Price, also boosted their positions significantly, indicating strong interest in the company's stock.
• International Paper's most recent earnings report showed an EPS of $0.20, missing analysts' expectations, while the company has announced a dividend of $0.4625 per share to be paid on September 16th.

MetLife Investment Management LLC lifted its stake in International Paper Company (NYSE:IP - Free Report) by 120.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,342 shares of the basic materials company's stock after purchasing an additional 110,412 shares during the quarter. MetLife Investment Management LLC's holdings in International Paper were worth $10,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in IP. Vanguard Group Inc. lifted its position in shares of 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 worth $3,340,966,000 after purchasing an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $2,763,426,000 after purchasing an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 worth $914,712,000 after purchasing an additional 2,782,042 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of International Paper by 230.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,965,192 shares of the basic materials company's stock valued at $211,543,000 after buying an additional 2,763,634 shares in the last quarter. Finally, Nuveen LLC acquired a new position in International Paper in the first quarter worth approximately $132,900,000. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Down 1.4%

Shares of International Paper stock opened at $48.68 on Wednesday. The stock has a market capitalization of $25.70 billion, a P/E ratio of -486.80, a PEG ratio of 0.64 and a beta of 1.04. 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 moving average price of $49.32 and a two-hundred day moving average price of $49.67. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.55 EPS. Equities analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders 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 dividend on an annualized basis and a yield of 3.8%. International Paper's dividend payout ratio is presently -1,850.00%.

Analysts Set New Price Targets

IP has been the topic of a number of research reports. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. UBS Group initiated coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company restated 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. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $55.46.

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.

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