JPMorgan Chase & Co. Has $481.20 Million Stock Position in International Paper Company (NYSE:IP)

Key Points

• JPMorgan Chase & Co. has increased its stake in International Paper by 21.4%, acquiring an additional 1,590,137 shares, bringing its total ownership to about 9 million shares valued at $481 million.
• International Paper's latest earnings report revealed a quarterly EPS of $0.20, missing estimates by $0.18, despite revenue increasing 42.9% year-over-year.
• The company announced a quarterly dividend of $0.4625 per share, yielding 3.9%, with a significant dividend payout ratio of -1,850.00%.

JPMorgan Chase & Co. grew its position in International Paper Company (NYSE:IP - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,019,743 shares of the basic materials company's stock after buying an additional 1,590,137 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.71% of International Paper worth $481,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IP. Zions Bancorporation National Association UT acquired a new position in shares of International Paper in the first quarter worth about $34,000. Bernard Wealth Management Corp. acquired a new stake in shares of International Paper during the fourth quarter worth approximately $37,000. Citizens National Bank Trust Department acquired a new stake in shares of International Paper during the first quarter worth approximately $37,000. Transce3nd LLC acquired a new stake in shares of International Paper during the fourth quarter worth approximately $38,000. Finally, Grove Bank & Trust boosted its holdings in shares of International Paper by 472.0% during the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after purchasing an additional 623 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 1.7%

IP traded down $0.84 during midday trading on Thursday, hitting $47.80. 3,822,944 shares of the company's stock traded hands, compared to its average volume of 6,565,381. The company has a market cap of $25.24 billion, a PE ratio of -478.00, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The stock's fifty day simple moving average is $49.16 and its 200-day simple moving average is $50.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a one year low of $43.27 and a one year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the previous year, the business posted $0.55 EPS. International Paper's revenue was up 42.9% compared to the same quarter last year. As a group, equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is presently -1,850.00%.

Analyst Ratings Changes

IP has been the subject of several research reports. UBS Group initiated coverage on shares of International Paper in a report on Wednesday, June 4th. They set a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Wells Fargo & Company restated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Finally, Truist Financial set a $59.00 price target 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 issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $55.03.

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.