Point72 Hong Kong Ltd Makes New Investment in International Paper (NYSE:IP)

Point72 Hong Kong Ltd acquired a new position in International Paper (NYSE:IP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,431 shares of the basic materials company’s stock, valued at approximately $1,153,000.

Several other large investors have also recently modified their holdings of IP. Capital Research Global Investors increased its position in shares of International Paper by 68.8% during the 4th quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company’s stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares during the last quarter. FMR LLC increased its position in shares of International Paper by 48.9% during the 4th quarter. FMR LLC now owns 26,559,812 shares of the basic materials company’s stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of International Paper by 134.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company’s stock valued at $212,522,000 after purchasing an additional 2,266,762 shares during the last quarter. Norges Bank bought a new position in shares of International Paper during the 4th quarter valued at approximately $109,201,000. Finally, Slate Path Capital LP bought a new position in shares of International Paper during the 4th quarter valued at approximately $102,796,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IP shares. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They set a “buy” rating and a $60.00 price objective for the company. Wells Fargo & Company reissued an “underweight” rating and issued a $40.00 price objective (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Truist Financial lowered their target price on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Bank of America assumed coverage on International Paper in a report on Thursday, February 13th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. began coverage on International Paper in a report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $54.21.

International Paper Price Performance

Shares of IP opened at $49.55 on Friday. The business’s 50-day moving average is $48.70 and its two-hundred day moving average is $53.38. The company has a market capitalization of $26.16 billion, a P/E ratio of 31.56, a P/E/G ratio of 0.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a fifty-two week low of $39.51 and a fifty-two week high of $60.36.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the business earned $0.17 earnings per share. International Paper’s revenue was up 27.8% on a year-over-year basis. Research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, May 23rd. International Paper’s dividend payout ratio is presently 158.12%.

Insider Activity at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by corporate insiders.

International Paper 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.