Vident Advisory LLC Increases Stock Position in International Paper Company $IP

Key Points

• Vident Advisory LLC significantly increased its holdings in International Paper Company, purchasing 76,577 shares and raising its stake by 239.3% to a total of 108,576 shares.
• International Paper recently reported earnings of $0.20 per share, falling short of the consensus estimate of $0.38, despite a 42.9% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.4625 per share, set to be paid on September 16th, with an annualized yield of 3.7%.

Vident Advisory LLC raised its stake in International Paper Company (NYSE:IP - Free Report) by 239.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,576 shares of the basic materials company's stock after acquiring an additional 76,577 shares during the period. Vident Advisory LLC's holdings in International Paper were worth $5,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in IP. Vanguard Group Inc. grew its position in 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 grew its position 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 buying an additional 4,201,422 shares during the period. Bank of New York Mellon Corp grew its position 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 buying an additional 2,782,042 shares during the period. JPMorgan Chase & Co. grew its position 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 buying an additional 1,590,137 shares during the period. Finally, Invesco Ltd. grew its position 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 buying an additional 85,732 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Down 0.4%

NYSE:IP traded down $0.17 on Thursday, hitting $48.00. 818,523 shares of the company's stock were exchanged, compared to its average volume of 6,301,360. The company has a market cap of $25.34 billion, a P/E ratio of -480.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.05. The firm has a 50-day moving average price of $49.66 and a 200-day moving average price of $49.45. International Paper Company has a 52 week low of $43.27 and a 52 week high of $60.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96.

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

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio (DPR) is currently -1,850.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday, May 28th. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and lifted their target price for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. 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. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $55.65.

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.