International Paper Company (NYSE:IP) Shares Bought by Prudential PLC

Key Points

• Prudential PLC increased its stake in International Paper Company by 124.6%, owning 9,672 shares valued at approximately $516,000 as of its latest SEC filing.
• The company's recent earnings report revealed a miss on EPS at $0.20, compared to the expected $0.38, despite a 42.9% year-over-year increase in revenue.
• International Paper declared a quarterly dividend of $0.4625 per share, with a dividend yield of 4.0%, and a notably high payout ratio of -1,850.00%.

Prudential PLC grew its stake in shares of International Paper Company (NYSE:IP - Free Report) by 124.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,672 shares of the basic materials company's stock after purchasing an additional 5,365 shares during the quarter. Prudential PLC's holdings in International Paper were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in shares of International Paper during the first quarter worth approximately $34,000. Bernard Wealth Management Corp. purchased a new position in International Paper in the 4th quarter valued at $37,000. Transce3nd LLC purchased a new position in International Paper in the 4th quarter valued at $38,000. Citizens National Bank Trust Department purchased a new position in International Paper in the 1st quarter valued at $37,000. Finally, Grove Bank & Trust grew its position in International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after buying an additional 623 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Analyst Ratings Changes

IP has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group initiated coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered shares of International Paper from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Finally, Truist Financial set a $59.00 price objective on shares of International Paper in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, International Paper presently has an average rating of "Hold" and an average price target of $55.46.

International Paper Price Performance

Shares of NYSE IP opened at $46.64 on Friday. The firm has a market capitalization of $24.62 billion, a P/E ratio of -466.40, a PEG ratio of 0.60 and a beta of 1.04. International Paper Company has a one year low of $43.27 and a one year high of $60.36. The company's fifty day moving average is $49.16 and its two-hundred day moving average is $50.09. 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 (NYSE:IP - Get Free Report) last issued its earnings results 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). The company had revenue of $6.77 billion for 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%. International Paper's revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company 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 4.0%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's payout ratio is -1,850.00%.

International Paper Company 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.

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