Nuveen Asset Management LLC Raises Stock Holdings in International Paper (NYSE:IP)

Nuveen Asset Management LLC grew its position in shares of International Paper (NYSE:IP) by 26.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,053,574 shares of the basic materials company’s stock after buying an additional 222,392 shares during the period. Nuveen Asset Management LLC’s holdings in International Paper were worth $56,703,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Occudo Quantitative Strategies LP bought a new position in International Paper during the 4th quarter worth approximately $262,000. OMERS ADMINISTRATION Corp lifted its holdings in International Paper by 20.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 13,793 shares of the basic materials company’s stock worth $742,000 after buying an additional 2,339 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in International Paper by 5.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,742 shares of the basic materials company’s stock worth $23,129,000 after buying an additional 21,127 shares during the last quarter. Laurion Capital Management LP bought a new position in International Paper during the 4th quarter worth approximately $1,107,000. Finally, Lighthouse Investment Partners LLC lifted its holdings in International Paper by 93.5% during the 4th quarter. Lighthouse Investment Partners LLC now owns 139,685 shares of the basic materials company’s stock worth $7,518,000 after buying an additional 67,503 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Activity at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of International Paper stock in a transaction 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 approximately $1,413,896.25. This trade represents a 19.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com downgraded International Paper from a “hold” rating to a “sell” rating in a report on Monday, May 5th. Truist Financial cut their price target on International Paper from $64.00 to $59.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Bank of America started coverage on International Paper in a report on Thursday, February 13th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $40.00 price target (down previously from $45.00) on shares of International Paper in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.21.

International Paper Stock Up 1.1%

IP opened at $50.14 on Monday. International Paper has a 12 month low of $40.39 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a market cap of $26.47 billion, a P/E ratio of 31.94, a P/E/G ratio of 0.39 and a beta of 1.03. The stock’s 50 day moving average price is $48.72 and its 200 day moving average price is $53.42.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm’s revenue was up 27.8% compared to the same quarter last year. As a group, research analysts predict that International Paper will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, May 23rd. International Paper’s dividend payout ratio is currently 158.12%.

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.