International Paper Company (NYSE:IP) Shares Acquired by Close Asset Management Ltd

Close Asset Management Ltd grew its position in International Paper Company (NYSE:IP - Free Report) by 1,010.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,880 shares of the basic materials company's stock after purchasing an additional 20,820 shares during the period. Close Asset Management Ltd's holdings in International Paper were worth $1,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IP. KLP Kapitalforvaltning AS increased its holdings in shares of International Paper by 52.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 177,906 shares of the basic materials company's stock valued at $9,491,000 after acquiring an additional 61,000 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in International Paper by 25.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 231,509 shares of the basic materials company's stock valued at $12,351,000 after purchasing an additional 46,633 shares during the period. Wesleyan Assurance Society boosted its position in International Paper by 5.1% during the 1st quarter. Wesleyan Assurance Society now owns 120,820 shares of the basic materials company's stock valued at $6,321,000 after purchasing an additional 5,810 shares during the period. HighPoint Advisor Group LLC boosted its position in International Paper by 5.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 6,182 shares of the basic materials company's stock worth $330,000 after acquiring an additional 342 shares during the period. Finally, OneAscent Wealth Management LLC boosted its position in International Paper by 9.6% during the 1st quarter. OneAscent Wealth Management LLC now owns 4,273 shares of the basic materials company's stock worth $228,000 after acquiring an additional 376 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the transaction, the chief accounting officer directly owned 31,525 shares in the company, valued at approximately $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company's stock.

International Paper Stock Performance

Shares of International Paper stock opened at $52.59 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $48.54 and a two-hundred day moving average price of $50.89. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The company has a market cap of $27.76 billion, a P/E ratio of 44.95, a PEG ratio of 0.47 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.38 billion. During the same period last year, the company earned $0.17 EPS. International Paper's revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, analysts anticipate 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 paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.52%. International Paper's payout ratio is currently 158.12%.

Analysts Set New Price Targets

IP has been the topic of several research reports. Truist Financial set a $59.00 target price on International Paper in a research report on Wednesday, May 28th. UBS Group began 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. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $64.00 price objective on shares of International Paper in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, International Paper currently has a consensus rating of "Hold" and a consensus target price 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.

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