National Pension Service Increases Stake in International Paper Company $IP

Key Points

• National Pension Service increased its stake in International Paper Company by 39.8% during the first quarter, acquiring an additional 200,601 shares, bringing its total ownership to approximately 705,084 shares worth $37.6 million.
• International Paper reported a net earnings miss for the last quarter with earnings per share of $0.20, compared to the consensus estimate of $0.38, although their revenue increased by 42.9% year-over-year to $6.77 billion.
• The company declared a quarterly dividend of $0.4625 per share, translating to an annualized dividend of $1.85 and a dividend yield of 4.0%.

National Pension Service grew its position in International Paper Company (NYSE:IP - Free Report) by 39.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 705,084 shares of the basic materials company's stock after acquiring an additional 200,601 shares during the quarter. National Pension Service owned about 0.13% of International Paper worth $37,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mondrian Investment Partners LTD purchased a new stake in shares of International Paper in the first quarter valued at $79,000. LGT Group Foundation bought a new position in shares of International Paper in the first quarter worth about $828,000. Russell Investments Group Ltd. grew its holdings in shares of International Paper by 37.3% in the first quarter. Russell Investments Group Ltd. now owns 746,816 shares of the basic materials company's stock worth $39,835,000 after purchasing an additional 203,007 shares during the last quarter. Prudential PLC grew its holdings in shares of International Paper by 124.6% in the first quarter. Prudential PLC now owns 9,672 shares of the basic materials company's stock worth $516,000 after purchasing an additional 5,365 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its holdings in shares of International Paper by 61.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 160,798 shares of the basic materials company's stock worth $8,575,000 after purchasing an additional 61,434 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IP. UBS Group began coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company restated an "underweight" rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday, May 28th. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Finally, Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $55.46.

International Paper Stock Down 0.7%

Shares of NYSE:IP traded down $0.31 during trading on Wednesday, reaching $47.01. The stock had a trading volume of 1,572,026 shares, compared to its average volume of 6,478,518. International Paper Company has a one year low of $43.27 and a one year high of $60.36. The company has a market capitalization of $24.82 billion, a P/E ratio of -470.10, a PEG ratio of 0.60 and a beta of 1.04. 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 firm's 50-day simple moving average is $49.13 and its 200 day simple moving average is $49.90.

International Paper (NYSE:IP - Get Free Report) last released 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). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. The firm'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 EPS for the current fiscal year.

International Paper Dividend Announcement

The business 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 $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's dividend payout ratio (DPR) is presently -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.