Rakuten Investment Management Inc. Purchases New Position in International Paper Company $IP

Key Points

• Rakuten Investment Management initiated a position in International Paper, buying 93,327 shares worth approximately $3.11 million in the third quarter. Institutional investors and hedge funds collectively own 81.95% of the stock.
• Analysts have a “Moderate Buy” consensus, with an average price target of $45.44; recent target revisions included cuts from Citigroup, JPMorgan and UBS.
• International Paper reported quarterly EPS of $0.37, beating the $0.29 estimate, while revenue of $6.20 billion came in below expectations. The company announced a quarterly dividend of $0.4625 per share, equivalent to a 5.4% annualized yield.

Rakuten Investment Management Inc. acquired a new position in shares of International Paper Company (NYSE:IP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 93,327 shares of the basic materials company's stock, valued at approximately $3,110,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Provenance Wealth Advisors LLC acquired a new position in International Paper in the third quarter valued at $38,000. TrinityBridge Ltd acquired a new stake in shares of International Paper during the third quarter worth about $994,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of International Paper during the third quarter worth about $2,159,000. First Nebraska Trust Co purchased a new stake in shares of International Paper in the 3rd quarter valued at about $2,363,000. Finally, Garner Asset Management Corp purchased a new stake in shares of International Paper in the 3rd quarter valued at about $913,000. Institutional investors and hedge funds own 81.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IP. Bank of America restated a "buy" rating on shares of International Paper in a research note on Thursday, October 29th. Loop Capital set a $61.00 price objective on International Paper in a research note on Tuesday, July 28th. Citigroup reduced their price objective on International Paper from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, October 30th. JPMorgan Chase & Co. decreased their price objective on International Paper from $62.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, October 29th. Finally, UBS Group lowered their target price on shares of International Paper from $47.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.44.

International Paper Price Performance

Shares of NYSE:IP opened at $34.54 on Friday. International Paper Company has a one year low of $29.26 and a one year high of $50.25. The stock has a market capitalization of $18.29 billion, a price-to-earnings ratio of -5.27, a PEG ratio of 5.11 and a beta of 0.97. The company has a 50-day simple moving average of $34.38 and a 200-day simple moving average of $37.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.77 and a current ratio of 0.99.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $6.20 billion for the quarter, compared to analysts' expectations of $6.28 billion. International Paper had a positive return on equity of 1.77% and a negative net margin of 14.32%. The firm's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) EPS. On average, analysts predict that International Paper Company will post 1.14 EPS for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Monday, November 16th. International Paper's dividend payout ratio (DPR) is -28.20%.

International Paper Company Profile

International Paper is a global producer of fiber-based packaging and pulp products. Its packaging offerings include containerboard and corrugated packaging used to protect and transport goods, while its pulp products serve a range of consumer and industrial applications.

The company traces its origins to 1898, when several U.S. paper manufacturers combined to form International Paper. Over time, it has evolved through acquisitions and changes to its business, with a focus on renewable, fiber-based materials and packaging solutions.

International Paper serves customers across multiple regions, including North America and Europe.

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