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Locust Wood Capital Advisers LLC Acquires New Stake in International Paper Company (NYSE:IP)

International Paper logo with Basic Materials background

Key Points

  • Locust Wood Capital Advisers LLC acquired 14,380 shares of International Paper Company, valued at approximately $767,000, during the first quarter.
  • Several large investors, including Vanguard Group Inc. and Capital Research Global Investors, have increased their stakes in International Paper significantly, indicating strong institutional interest.
  • Wall Street analysts have mixed views on International Paper, with a consensus rating of "Hold" and a target price around $55.03, following recent earnings that missed estimates.
  • Looking to Export and Analyze International Paper Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Locust Wood Capital Advisers LLC purchased a new stake in shares of International Paper Company (NYSE:IP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,380 shares of the basic materials company's stock, valued at approximately $767,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in International Paper in the 4th quarter worth $60,000. Cerity Partners LLC increased its position in International Paper by 8.2% in the fourth quarter. Cerity Partners LLC now owns 41,175 shares of the basic materials company's stock worth $2,139,000 after buying an additional 3,125 shares in the last quarter. Bank of Nova Scotia increased its holdings in International Paper by 4.9% in the 4th quarter. Bank of Nova Scotia now owns 45,752 shares of the basic materials company's stock worth $2,462,000 after acquiring an additional 2,124 shares in the last quarter. Renaissance Technologies LLC increased its holdings in International Paper by 98.8% in the 4th quarter. Renaissance Technologies LLC now owns 910,700 shares of the basic materials company's stock worth $49,014,000 after acquiring an additional 452,500 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in International Paper during the 4th quarter worth approximately $21,307,000. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IP shares. UBS Group began coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. 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 report on Thursday, July 10th. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $55.03.

View Our Latest Analysis on International Paper

International Paper Price Performance

IP traded down $0.50 during trading hours on Friday, hitting $47.54. The company's stock had a trading volume of 3,280,271 shares, compared to its average volume of 5,359,361. The stock has a market cap of $25.10 billion, a price-to-earnings ratio of -475.40, a P/E/G ratio of 0.57 and a beta of 1.04. The business's 50-day moving average price is $49.11 and its 200-day moving average price is $50.42. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its 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 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 the consensus estimate of $6.64 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The business's quarterly revenue was up 42.9% on a year-over-year basis. Sell-side analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. International Paper's payout ratio is currently -1,850.00%.

International Paper Profile

(Free Report)

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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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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