LGT Group Foundation Takes $828,000 Position in International Paper Company (NYSE:IP)

Key Points

• The LGT Group Foundation has made a significant investment in International Paper Company, purchasing 15,525 shares valued at approximately $828,000 in the 1st quarter of the year.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and a target price averaging around $55.03, despite recent upgrades and downgrades from various brokerages.
• International Paper's recent quarterly earnings report showed a miss in EPS estimates at $0.20, but revenues were up 42.9% from the previous year, highlighting strong sales performance.

LGT Group Foundation acquired a new position in shares of International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,525 shares of the basic materials company's stock, valued at approximately $828,000.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in International Paper by 8.2% during the 4th quarter. Cerity Partners LLC now owns 41,175 shares of the basic materials company's stock worth $2,139,000 after acquiring an additional 3,125 shares during the last quarter. Raymond James Financial Inc. purchased a new position in International Paper during the 4th quarter worth $21,307,000. Sterling Capital Management LLC boosted its holdings in International Paper by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 20,533 shares of the basic materials company's stock worth $1,105,000 after acquiring an additional 7,325 shares during the last quarter. Townsquare Capital LLC boosted its holdings in International Paper by 69.2% during the 4th quarter. Townsquare Capital LLC now owns 11,646 shares of the basic materials company's stock worth $627,000 after acquiring an additional 4,765 shares during the last quarter. Finally, SageView Advisory Group LLC boosted its holdings in shares of International Paper by 21.7% in the 4th quarter. SageView Advisory Group LLC now owns 13,502 shares of the basic materials company's stock worth $727,000 after buying an additional 2,404 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IP shares. JPMorgan Chase & Co. downgraded 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. Wells Fargo & Company restated an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. UBS Group initiated coverage on International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, International Paper presently has an average rating of "Hold" and an average price target of $55.46.

International Paper Trading Down 2.3%

Shares of NYSE:IP traded down $1.12 during trading on Friday, reaching $46.64. 3,522,576 shares of the company traded hands, compared to its average volume of 6,545,750. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of -466.40, a P/E/G ratio of 0.61 and a beta of 1.04. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36. 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 business's fifty day moving average is $49.17 and its 200-day moving average is $50.17.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the previous year, the business earned $0.55 EPS. The business's revenue was up 42.9% compared to the same quarter last year. As a group, analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

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 issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. 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.