International Paper Company (NYSE:IP) Shares Acquired by Sei Investments Co.

Key Points

• Sei Investments Co. increased its holdings in International Paper Company by 19.8%, acquiring an additional 78,970 shares, bringing its total to 477,800 shares valued at approximately $25.6 million.
• Several major investors, including Vanguard Group Inc. and Bessemer Group Inc., have significantly boosted their stakes in International Paper, with institutional investors now owning 81.95% of the company's stock.
• International Paper recently reported a missed earnings estimate for the last quarter, posting $0.20 EPS compared to the consensus estimate of $0.38, while its revenue increased by 42.9% year-over-year.

Sei Investments Co. lifted its position in shares of International Paper Company (NYSE:IP - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477,800 shares of the basic materials company's stock after purchasing an additional 78,970 shares during the period. Sei Investments Co. owned about 0.09% of International Paper worth $25,586,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stratos Wealth Partners LTD. lifted its position in shares of International Paper by 2.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company's stock worth $751,000 after purchasing an additional 282 shares during the last quarter. Spire Wealth Management lifted its position in shares of International Paper by 2,343.9% during the 1st quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock worth $86,000 after purchasing an additional 1,547 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of International Paper by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock worth $480,000 after purchasing an additional 231 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of International Paper by 37.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company's stock worth $1,194,000 after purchasing an additional 6,077 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its position in shares of International Paper by 88.6% during the 4th quarter. Dark Forest Capital Management LP now owns 11,310 shares of the basic materials company's stock worth $609,000 after purchasing an additional 5,312 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

NYSE IP traded down $1.12 during trading on Friday, reaching $46.64. The company's stock had a trading volume of 3,522,576 shares, compared to its average volume of 5,337,198. 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 firm 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. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The business's fifty day moving average price is $49.16 and its 200-day moving average price is $50.03.

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

International Paper Announces Dividend

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 paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is -1,850.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on IP. Wells Fargo & Company reissued 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. Truist Financial set a $59.00 price target on shares of International Paper in a research report on Wednesday, May 28th. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group began 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 for the company. Finally, JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus 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.