OneAscent Investment Solutions LLC Buys Shares of 9,148 International Paper Company (NYSE:IP)

Key Points

• OneAscent Investment Solutions LLC has acquired a new position in International Paper Company, purchasing 9,148 shares valued at approximately $488,000.
• International Paper reported $0.20 earnings per share for the last quarter, missing the consensus estimate of $0.38, although it saw a 42.9% year-over-year revenue increase to $6.77 billion.
• The company will pay a quarterly dividend of $0.4625 per share on September 16, representing an annualized yield of 3.8%.

OneAscent Investment Solutions LLC purchased a new stake in International Paper Company (NYSE:IP - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,148 shares of the basic materials company's stock, valued at approximately $488,000.

A number of other institutional investors have also modified their holdings of IP. Vanguard Group Inc. boosted its stake in International Paper by 52.0% in the 1st quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock worth $3,340,966,000 after purchasing an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in International Paper by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,596,595 shares of the basic materials company's stock worth $2,561,651,000 after purchasing an additional 368,648 shares in the last quarter. Capital Research Global Investors boosted its stake in International Paper by 68.8% in 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 purchasing an additional 12,191,361 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in International Paper by 19.4% in 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 purchasing an additional 2,782,042 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in International Paper by 21.4% in the 1st quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company's stock worth $481,203,000 after purchasing an additional 1,590,137 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of NYSE:IP traded down $1.12 during trading on Friday, hitting $46.64. 3,522,576 shares of the stock traded hands, compared to its average volume of 5,337,198. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The company has a market cap of $24.63 billion, a price-to-earnings ratio of -466.40, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a fifty day moving average price of $49.16 and a two-hundred day moving average price of $50.03. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $6.64 billion. During the same period in the previous year, the firm posted $0.55 EPS. International Paper's revenue was up 42.9% compared to the same quarter last year. As a group, equities analysts predict that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 4.0%. International Paper's payout ratio is presently -1,850.00%.

Wall Street Analyst Weigh In

A number of analysts recently commented on IP shares. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. UBS Group initiated coverage on shares of International Paper in a report 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 dropped their price objective for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.