Wolverine Asset Management LLC Invests $1.33 Million in International Paper Company (NYSE:IP)

Key Points

• Wolverine Asset Management LLC has acquired a new position in International Paper Company (NYSE:IP), buying 25,000 shares valued at approximately $1.33 million.
• Several institutional investors, including Stratos Wealth Partners and Spire Wealth Management, have significantly increased their stakes in International Paper during the first quarter, with hedge funds and other institutional investors owning 81.95% of the stock.
• International Paper's most recent earnings report showed a miss on earnings per share with $0.20 EPS compared to a consensus estimate of $0.38, while revenue reached $6.77 billion, exceeding expectations.

Wolverine Asset Management LLC acquired a new position in shares of International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 25,000 shares of the basic materials company's stock, valued at approximately $1,334,000.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IP shares. Wells Fargo & Company reiterated an "underweight" rating and set a $43.00 price target (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Truist Financial set a $59.00 price target on shares of International Paper in a research note on Wednesday, May 28th. JPMorgan Chase & Co. lowered shares of International Paper from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, UBS Group assumed coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a "buy" rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $55.03.

International Paper Trading Down 1.0%

NYSE IP opened at $47.54 on Friday. The company's fifty day moving average price is $49.11 and its two-hundred day moving average price is $50.42. 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 Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company has a market capitalization of $25.10 billion, a price-to-earnings ratio of -475.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.04.

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 analysts' consensus estimates of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%. The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company's quarterly revenue was up 42.9% compared to the same quarter last year. As a group, research analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

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

About International Paper

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.

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