M&G PLC Makes New $38.73 Million Investment in International Paper Company $IP

Key Points

• M&G PLC acquired 1,161,002 International Paper shares in the third quarter, valued at about $38.7 million and representing roughly 0.22% of the company.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $45.44; several brokerages recently lowered their targets.
• International Paper beat quarterly earnings expectations, reporting EPS of $0.37 versus $0.29 expected, while revenue came in below estimates at $6.20 billion. Its quarterly dividend is $0.4625 per share, an annualized yield of about 5.2%.

M&G PLC acquired a new position in International Paper Company (NYSE:IP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,161,002 shares of the basic materials company's stock, valued at approximately $38,732,000. M&G PLC owned approximately 0.22% of International Paper at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IP. Kestra Investment Management LLC bought a new position in shares of International Paper in the third quarter valued at approximately $240,000. AlphaCore Capital LLC purchased a new stake in shares of International Paper during the third quarter worth $751,000. Fulcrum Asset Management LLP purchased a new position in International Paper during the third quarter valued at approximately $1,895,000. Carret Asset Management LLC purchased a new position in shares of International Paper during the third quarter worth about $627,000. Finally, Brighton Jones LLC bought a new stake in International Paper during the third quarter worth about $430,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IP. UBS Group cut their target price on shares of International Paper from $47.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. dropped their target price on shares of International Paper from $62.00 to $51.00 and set an "overweight" rating on the stock in a research note on Thursday, October 29th. Wells Fargo & Company decreased their target price on shares of International Paper from $46.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday, October 7th. Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday, July 28th. Finally, Argus reiterated a "buy" rating and set a $45.00 price objective on shares of International Paper in a research report on Thursday, September 24th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.44.

International Paper Trading Up 2.5%

Shares of IP opened at $35.41 on Tuesday. The firm has a market capitalization of $18.75 billion, a price-to-earnings ratio of -5.40, a PEG ratio of 5.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.77. International Paper Company has a 1-year low of $29.26 and a 1-year high of $50.25. The company has a 50-day moving average of $34.31 and a 200 day moving average of $37.21.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.43) earnings per share. On average, research analysts expect that International Paper Company will post 1.14 EPS for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 5.2%. The ex-dividend date is Monday, November 16th. International Paper's payout ratio is -28.20%.

International Paper Company Profile

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications.

The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.

International Paper serves customers across multiple regions, including North America and Europe.

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