Russell Investments Group Ltd. Purchases 203,007 Shares of International Paper Company (NYSE:IP)

Key Points

• Russell Investments Group Ltd. increased its stake in International Paper by 37.3%, acquiring an additional 203,007 shares during the 1st quarter, bringing its total ownership to approximately 0.14% of the company, valued at $39.8 million.
• International Paper reported $0.20 EPS for the last quarter, missing the expected $0.38, despite revenue growing 42.9% year-over-year to $6.77 billion.
• The company declared a quarterly dividend of $0.4625 per share, representing an annual yield of 3.9%, although its payout ratio stands at an unusually high -1,850.00%.

Russell Investments Group Ltd. grew its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 37.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 746,816 shares of the basic materials company's stock after purchasing an additional 203,007 shares during the quarter. Russell Investments Group Ltd. owned about 0.14% of International Paper worth $39,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 acquiring an additional 21,428,455 shares during the period. Capital Research Global Investors raised its holdings 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 acquiring an additional 12,191,361 shares during the period. Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 2,782,042 shares during the period. Nuveen LLC bought a new position in International Paper in the 1st quarter worth $132,900,000. Finally, Bessemer Group Inc. grew its position in International Paper by 3,304.9% in the 1st quarter. Bessemer Group Inc. now owns 2,547,255 shares of the basic materials company's stock worth $135,897,000 after purchasing an additional 2,472,443 shares during the last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Price Performance

Shares of International Paper stock traded down $1.12 during trading on Friday, hitting $46.64. 3,522,576 shares of the company's stock traded hands, compared to its average volume of 5,337,198. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The firm's fifty day moving average price is $49.16 and its 200 day moving average price is $50.03. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a market cap of $24.63 billion, a PE ratio of -466.40, a PEG ratio of 0.58 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the firm posted $0.55 earnings per share. International Paper's revenue was up 42.9% on a year-over-year basis. Analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced 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. 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 payout ratio is -1,850.00%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Truist Financial set a $59.00 price target on shares of International Paper in a research report on Wednesday, May 28th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Wells Fargo & Company restated an "underweight" rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered shares of International Paper from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Finally, UBS Group assumed coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.