United Services Automobile Association Makes New $599,000 Investment in International Paper Company $IP

Key Points

• United Services Automobile Association has recently acquired 11,255 shares of International Paper Company valued at approximately $599,000, as disclosed in a 13F filing with the SEC.
• International Paper's stock has seen various institutional investors increase their holdings significantly, with Jones Financial Companies Lllp growing by 1,012.2% in the first quarter.
• The company reported a Q2 EPS of $0.20, missing the consensus estimate of $0.38, despite achieving a revenue of $6.77 billion, which surpassed expectations.

United Services Automobile Association acquired a new position in shares of International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 11,255 shares of the basic materials company's stock, valued at approximately $599,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of International Paper by 52.0% during the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company's stock worth $3,340,966,000 after buying an additional 21,428,455 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in International Paper by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company's stock worth $2,763,426,000 after purchasing an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in International Paper by 19.4% during the first 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. JPMorgan Chase & Co. raised its holdings in International Paper by 21.4% during the first 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. Finally, Invesco Ltd. raised its holdings in International Paper by 1.1% during the first quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company's stock worth $428,941,000 after purchasing an additional 85,732 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on IP shares. Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. UBS Group started coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target on the stock. Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.65.

International Paper Stock Down 1.1%

Shares of International Paper stock traded down $0.52 on Friday, hitting $46.01. 2,883,451 shares of the company traded hands, compared to its average volume of 3,470,695. The company has a 50-day moving average price of $49.43 and a 200 day moving average price of $48.97. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The company has a market cap of $24.29 billion, a PE ratio of -460.10, a PEG ratio of 0.53 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last posted 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 negative net margin of 0.12% and a positive return on equity of 2.63%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company's revenue was up 42.9% on a year-over-year basis. Sell-side analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.0%. International Paper's dividend payout ratio is currently -1,850.00%.

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.