Jag Capital Management LLC Invests $589,000 in International Paper Company (NYSE:IP)

Jag Capital Management LLC acquired a new position in International Paper Company (NYSE:IP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,036 shares of the basic materials company's stock, valued at approximately $589,000.

Several other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in shares of International Paper by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock worth $2,561,651,000 after purchasing an additional 368,648 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after purchasing an additional 340,383 shares during the last quarter. Capital Research Global Investors grew its stake in shares of International Paper by 68.8% in the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock worth $1,609,462,000 after purchasing an additional 12,191,361 shares during the last quarter. FMR LLC grew its stake in shares of International Paper by 48.9% in the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after purchasing an additional 8,720,575 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of International Paper by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 8,393,217 shares of the basic materials company's stock worth $450,586,000 after buying an additional 24,816 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Stock Performance

IP stock opened at $47.45 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The stock has a market cap of $25.05 billion, a P/E ratio of 40.56, a P/E/G ratio of 0.43 and a beta of 1.04. The firm has a 50 day simple moving average of $47.05 and a 200 day simple moving average of $51.33. International Paper Company has a 52 week low of $42.26 and a 52 week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. International Paper had a return on equity of 4.05% and a net margin of 1.99%. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share. Research analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, May 23rd. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company reiterated an "underweight" rating and issued a $40.00 target price (down from $45.00) on shares of International Paper in a report on Friday, May 9th. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a report on Thursday, March 20th. They issued an "overweight" rating and a $59.00 target price for the company. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday. UBS Group assumed coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price for the company. Finally, Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.54.

Insider Buying and Selling at International Paper

In other International Paper 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 sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company's stock.

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.

Want to see what other hedge funds are holding IP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Paper Company (NYSE:IP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.