Mutual of America Capital Management LLC Raises Stock Holdings in International Paper Company (NYSE:IP)

Key Points

• Mutual of America Capital Management LLC increased its stock holdings in International Paper Company by 47.3%, owning 61,305 shares valued at approximately $3.27 million.
• International Paper missed earnings expectations with a reported EPS of $0.20, falling short of the $0.38 consensus, despite having a revenue of $6.77 billion for the quarter.
• The company recently declared a quarterly dividend of $0.4625, leading to an annualized dividend yield of 3.9%, although the payout ratio is currently at an unusual -1,850.00%.

Mutual of America Capital Management LLC boosted its holdings in International Paper Company (NYSE:IP - Free Report) by 47.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,305 shares of the basic materials company's stock after buying an additional 19,692 shares during the quarter. Mutual of America Capital Management LLC's holdings in International Paper were worth $3,271,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in shares of International Paper by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock valued at $2,561,651,000 after purchasing an additional 368,648 shares during the period. Capital Research Global Investors grew its stake in shares of International Paper by 68.8% during the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares during the period. Bank of New York Mellon Corp grew its stake in shares of International Paper by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company's stock valued at $914,712,000 after purchasing an additional 2,782,042 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of International Paper by 134.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock valued at $212,522,000 after purchasing an additional 2,266,762 shares during the period. Finally, Northern Trust Corp grew its stake in shares of International Paper by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,542,211 shares of the basic materials company's stock valued at $190,642,000 after purchasing an additional 414,069 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Down 1.0%

NYSE IP opened at $47.54 on Friday. The stock's 50 day moving average is $49.11 and its 200 day moving average 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. The stock has a market cap of $25.10 billion, a PE ratio of -475.40, a P/E/G ratio of 0.57 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last posted 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 prior year, the firm posted $0.55 earnings per share. The firm's revenue for the quarter was up 42.9% on a year-over-year basis. Research analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IP shares. JPMorgan Chase & Co. downgraded International Paper from an "overweight" rating to a "neutral" rating and cut their price target for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 price objective (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, UBS Group began coverage on International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, International Paper presently has an average rating of "Hold" and an average target price of $55.03.

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.

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