Price T Rowe Associates Inc. MD Boosts Stake in International Paper Company $IP

Price T Rowe Associates Inc. MD lifted its holdings in International Paper Company (NYSE:IP) by 8.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 51,798,017 shares of the basic materials company’s stock after purchasing an additional 4,201,422 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.10% of International Paper worth $2,763,426,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. NewEdge Advisors LLC grew its position in shares of International Paper by 4.6% in the fourth quarter. NewEdge Advisors LLC now owns 32,542 shares of the basic materials company’s stock valued at $1,751,000 after purchasing an additional 1,434 shares during the period. Commerce Bank grew its holdings in shares of International Paper by 2.6% in the fourth quarter. Commerce Bank now owns 18,396 shares of the basic materials company’s stock valued at $990,000 after purchasing an additional 464 shares during the period. First Trust Advisors LP increased its holdings in shares of International Paper by 125.8% during the 4th quarter. First Trust Advisors LP now owns 439,576 shares of the basic materials company’s stock worth $23,658,000 after buying an additional 244,875 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in International Paper by 18.7% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,897 shares of the basic materials company’s stock valued at $856,000 after purchasing an additional 2,506 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in International Paper by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 91,930 shares of the basic materials company’s stock valued at $4,948,000 after buying an additional 1,626 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of a number of research analyst reports. UBS Group began coverage on International Paper in a research report on Wednesday, June 4th. They issued a “buy” rating and a $60.00 target price on the stock. Wells Fargo & Company reiterated an “underweight” rating and set a $43.00 price target (up previously from $40.00) on shares of International Paper in a report on Thursday, July 10th. Zacks Research lowered International Paper from a “hold” rating to a “strong sell” rating in a research report on Monday. Truist Financial set a $59.00 price objective on shares of International Paper in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. downgraded International Paper from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $54.00 in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.46.

International Paper Stock Down 0.5%

International Paper stock opened at $47.07 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The stock’s fifty day moving average is $49.13 and its two-hundred day moving average is $49.88. International Paper Company has a fifty-two week low of $43.27 and a fifty-two week high of $60.36. The firm has a market capitalization of $24.85 billion, a price-to-earnings ratio of -470.70, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04.

International Paper (NYSE:IP) last announced 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 business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. Analysts predict that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given 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 yield of 3.9%. International Paper’s dividend payout ratio (DPR) is presently -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.