Nisa Investment Advisors LLC Makes New Investment in International Paper Company $IP

Key Points

• Nisa Investment Advisors bought 137,670 shares of International Paper in the third quarter, valued at approximately $4.57 million. Several other institutions also initiated positions, with institutional investors and hedge funds owning 81.95% of the stock.
• International Paper reported quarterly EPS of $0.04, beating estimates, but revenue fell 11.3% year over year to $6 billion and the company posted a negative net margin. The stock opened at $33.16, below its 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $0.4625, equivalent to an annualized $1.85 payout and a 5.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $46.90, despite some recent target-price reductions.

Nisa Investment Advisors LLC purchased a new position in shares of International Paper Company (NYSE:IP - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 137,670 shares of the basic materials company's stock, valued at approximately $4,567,000.

Several other hedge funds have also added to or reduced their stakes in IP. Robeco Institutional Asset Management B.V. bought a new position in shares of International Paper in the 3rd quarter worth about $863,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in International Paper in the 3rd quarter valued at about $314,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of International Paper in the third quarter worth approximately $2,324,000. Jeppson Wealth Management LLC purchased a new stake in International Paper in the 3rd quarter valued at $233,000. Finally, Novem Group bought a new position in shares of International Paper during the third quarter valued at about $266,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE:IP opened at $33.16 on Friday. The stock has a 50-day simple moving average of $35.47 and a two-hundred day simple moving average of $35.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The firm has a market capitalization of $17.56 billion, a PE ratio of -5.09, a P/E/G ratio of 4.45 and a beta of 0.93. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company's revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm earned $0.20 EPS. Analysts forecast that International Paper Company will post 1.26 EPS for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Monday, November 16th. International Paper's payout ratio is currently -28.37%.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the sale, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. This represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP William Hamic sold 24,500 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the transaction, the vice president owned 106,952 shares in the company, valued at $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IP. Citigroup reduced their price target on shares of International Paper from $48.00 to $47.00 and set a "buy" rating for the company in a research report on Friday, October 2nd. Argus restated a "buy" rating and set a $45.00 price target on shares of International Paper in a research report on Thursday, September 24th. Truist Financial dropped their target price on International Paper from $49.00 to $41.00 and set a "buy" rating for the company in a research report on Monday, October 12th. Loop Capital set a $61.00 price target on International Paper in a report on Tuesday, July 28th. Finally, Seaport Research Partners reiterated a "buy" rating and issued a $46.00 price target on shares of International Paper in a research note on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.90.

International Paper Company Profile

International Paper NYSE: IP is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.

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