U S Global Investors Inc. Invests $400,000 in International Paper Company (NYSE:IP)

U S Global Investors Inc. bought a new position in shares of International Paper Company (NYSE:IP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,500 shares of the basic materials company's stock, valued at approximately $400,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in International Paper by 18.0% during the 4th quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company's stock worth $946,000 after purchasing an additional 2,685 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in International Paper during the 4th quarter worth $502,000. Korea Investment CORP boosted its stake in International Paper by 220.6% during the 4th quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company's stock worth $16,720,000 after purchasing an additional 213,783 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of International Paper during the 4th quarter worth $21,307,000. Finally, Assenagon Asset Management S.A. raised its holdings 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 acquiring an additional 6,077 shares during the period. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Trading Up 2.0%

IP traded up $0.94 on Friday, hitting $47.45. The company had a trading volume of 4,305,535 shares, compared to its average volume of 3,647,097. The firm has a market cap of $25.05 billion, a P/E ratio of 40.56, a PEG ratio of 0.43 and a beta of 1.04. International Paper Company has a 1 year low of $42.26 and a 1 year high of $60.36. The company's fifty day moving average price is $47.05 and its 200 day moving average price is $51.31. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.51.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.12). The company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.38 billion. International Paper had a net margin of 1.99% and a return on equity of 4.05%. The firm's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 earnings per share. As a group, equities analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.4625 per share. The ex-dividend date was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.90%. International Paper's dividend payout ratio (DPR) is presently 158.12%.

Wall Street Analyst Weigh In

IP has been the topic of several analyst reports. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday. Citigroup initiated coverage on International Paper in a report on Wednesday, March 5th. They set a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company reiterated an "underweight" rating and set a $40.00 price target (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. JPMorgan Chase & Co. initiated coverage on International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Finally, Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, International Paper currently has a consensus rating of "Hold" and a consensus target price of $54.54.

Insiders Place Their Bets

In other International Paper news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company's stock.

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.