Capital Research Global Investors Buys 204,654 Shares of International Paper Company $IP

Capital Research Global Investors lifted its stake in International Paper Company (NYSE:IP) by 0.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 54,535,444 shares of the basic materials company’s stock after acquiring an additional 204,654 shares during the period. Capital Research Global Investors owned about 0.10% of International Paper worth $2,148,154,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Caprock Group LLC bought a new position in International Paper during the third quarter worth about $2,340,000. Icon Advisers Inc. Co. bought a new position in International Paper during the third quarter worth about $4,853,000. Advisors Preferred LLC bought a new position in International Paper during the third quarter worth about $1,181,000. Barclays PLC lifted its stake in International Paper by 12.4% during the third quarter. Barclays PLC now owns 2,348,177 shares of the basic materials company’s stock worth $108,955,000 after purchasing an additional 259,371 shares during the period. Finally, SG Americas Securities LLC lifted its stake in International Paper by 94.8% during the fourth quarter. SG Americas Securities LLC now owns 1,590,689 shares of the basic materials company’s stock worth $62,657,000 after purchasing an additional 774,301 shares during the period. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE IP opened at $33.66 on Friday. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of -5.29 and a beta of 0.96. The company has a 50 day moving average of $33.76 and a 200-day moving average of $38.37. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. International Paper Company has a 1-year low of $29.26 and a 1-year high of $56.13.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. On average, equities analysts forecast that International Paper Company will post 1.38 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.5%. International Paper’s dividend payout ratio (DPR) is currently -29.09%.

Analyst Ratings Changes

A number of brokerages have commented on IP. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Citigroup cut their price target on shares of International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Seaport Research Partners upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Friday, May 1st. BNP Paribas Exane cut their price target on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company raised shares of International Paper from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $39.00 in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.73.

Insider Buying and Selling

In related news, Director Anders Gustafsson purchased 13,217 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average price of $37.83 per share, with a total value of $499,999.11. Following the completion of the acquisition, the director directly owned 26,092 shares in the company, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Tozier purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of $31.30 per share, with a total value of $313,000.00. Following the acquisition, the director owned 10,025 shares of the company’s stock, valued at $313,782.50. This represents a 40,000.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 36,092 shares of company stock valued at $1,313,064. 0.21% of the stock is currently owned by company insiders.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.