AIA Group Ltd Purchases New Position in International Paper Company (NYSE:IP)

AIA Group Ltd purchased a new stake in shares of International Paper Company (NYSE:IP) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 48,526 shares of the basic materials company’s stock, valued at approximately $2,589,000.

A number of other institutional investors also recently modified their holdings of IP. Zions Bancorporation National Association UT bought a new stake in International Paper during the 1st quarter worth approximately $34,000. Bernard Wealth Management Corp. bought a new stake in International Paper during the 4th quarter worth approximately $37,000. Citizens National Bank Trust Department bought a new stake in International Paper during the 1st quarter worth approximately $37,000. Transce3nd LLC bought a new stake in International Paper during the 4th quarter worth approximately $38,000. Finally, Grove Bank & Trust increased its holdings in International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 623 shares during the period. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE:IP opened at $47.12 on Tuesday. The company’s fifty day moving average price is $49.11 and its 200-day moving average price is $50.28. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of -471.20, a PEG ratio of 0.57 and a beta of 1.04. International Paper Company has a one year low of $43.27 and a one year 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) last released its 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 business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the prior year, the business posted $0.55 EPS. International Paper’s revenue for the quarter was up 42.9% on a year-over-year basis. On average, equities research analysts anticipate that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

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

Analyst Ratings Changes

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

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.