2,491,088 Shares in International Paper Company (NYSE:IP) Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired approximately 2.49 million shares of International Paper Company, valued at around $132.9 million, making it a significant new position for the firm.
• International Paper reported a Q2 earnings per share of $0.20, missing expectations and reflecting a negative net margin of 0.12%, despite a notable 42.9% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.4625 per share, translating to a 3.9% yield, set to be paid on September 16th to shareholders on record by August 15th.

Nuveen LLC acquired a new stake in International Paper Company (NYSE:IP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,491,088 shares of the basic materials company's stock, valued at approximately $132,900,000. Nuveen LLC owned about 0.47% of International Paper as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IP. Greenleaf Trust lifted its holdings in shares of International Paper by 2.5% during the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock worth $493,000 after acquiring an additional 224 shares during the period. Sequoia Financial Advisors LLC increased its position in International Paper by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after acquiring an additional 231 shares during the period. Csenge Advisory Group boosted its stake in shares of International Paper by 1.5% in the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock valued at $867,000 after purchasing an additional 234 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in International Paper by 6.0% during the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock worth $223,000 after acquiring an additional 235 shares in the last quarter. Finally, Wimmer Associates 1 LLC grew its holdings in International Paper by 3.8% in the fourth quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock worth $401,000 after purchasing an additional 270 shares during the period. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 1.4%

NYSE:IP traded down $0.65 during midday trading on Friday, reaching $46.65. 2,338,339 shares of the stock traded hands, compared to its average volume of 6,535,614. The company has a fifty day moving average of $49.17 and a 200 day moving average of $50.17. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The stock has a market capitalization of $24.63 billion, a P/E ratio of -466.50, a PEG ratio of 0.61 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate 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 company 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 company posted $0.55 earnings per share. The firm's revenue for the quarter was up 42.9% compared to the same quarter last year. On average, research analysts predict that International Paper Company will post 2.77 EPS for the current 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 paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio (DPR) is presently -1,850.00%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of recent research reports. UBS Group started coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Truist Financial set a $59.00 target price on shares of International Paper in a report on Wednesday, May 28th. Finally, Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, International Paper currently has an average rating of "Hold" and an average target price of $55.46.

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.