Neo Ivy Capital Management Invests $1.31 Million in International Paper Company (NYSE:IP)

Key Points

• Neo Ivy Capital Management acquired 24,584 shares of International Paper, valued at approximately $1.3 million, signifying new institutional interest in the company.
• The company's recent earnings report showed missed expectations with $0.23 earnings per share, lower than the consensus estimate of $0.35.
• International Paper announced a quarterly dividend of $0.4625 per share, yielding about 3.37%, highlighting its ongoing return to shareholders despite a high dividend payout ratio of 158.12%.

Neo Ivy Capital Management 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,584 shares of the basic materials company's stock, valued at approximately $1,312,000.

Several other large investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in International Paper by 0.8% in the fourth 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company's stock worth $2,217,119,000 after buying an additional 340,383 shares during the last quarter. Capital Research Global Investors lifted 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 worth $1,609,462,000 after buying an additional 12,191,361 shares during the last quarter. FMR LLC lifted its stake in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock worth $1,429,449,000 after buying an additional 8,720,575 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted 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 worth $914,712,000 after buying an additional 2,782,042 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Trading Down 1.3%

Shares of NYSE IP traded down $0.72 during midday trading on Tuesday, reaching $54.78. The stock had a trading volume of 2,354,921 shares, compared to its average volume of 6,600,234. The firm has a market cap of $28.92 billion, a price-to-earnings ratio of 46.82, a price-to-earnings-growth ratio of 0.51 and a beta of 1.02. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. The company's 50 day moving average price is $49.10 and its 200 day moving average price is $50.89.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 1.99% and a return on equity of 4.05%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm's revenue was up 27.8% on a year-over-year basis. As a group, sell-side analysts expect that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.38%. International Paper's payout ratio is presently 158.12%.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief accounting officer owned 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

IP has been the subject of a number of research reports. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, UBS Group started coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $55.65.

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.