NewEdge Advisors LLC Boosts Stake in International Paper Company $IP

NewEdge Advisors LLC grew its holdings in shares of International Paper Company (NYSE:IP) by 212.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,311 shares of the basic materials company’s stock after acquiring an additional 25,360 shares during the period. NewEdge Advisors LLC’s holdings in International Paper were worth $1,332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IP. McIlrath & Eck LLC lifted its stake in shares of International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new stake in International Paper during the 4th quarter valued at approximately $25,000. Ascentis Independent Advisors acquired a new stake in International Paper during the 1st quarter valued at approximately $28,000. DV Equities LLC purchased a new stake in International Paper during the 4th quarter worth approximately $29,000. Finally, Sound Income Strategies LLC increased its holdings in International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 344 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on IP. Truist Financial reiterated a “buy” rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a research note on Friday. UBS Group lifted their price target on shares of International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company upped their price target on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday. Seaport Research Partners upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Friday, May 1st. Finally, Royal Bank Of Canada raised their price objective on shares of International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

Key International Paper News

Here are the key news stories impacting International Paper this week:

• Positive Sentiment: Citigroup raised its price target to $48 and assigned a Buy rating, implying approximately 17% potential upside based on the referenced price. The call suggests confidence in containerboard pricing and International Paper’s longer-term recovery prospects. Benzinga analyst price target report
• Positive Sentiment: Second-quarter adjusted EPS was $0.04, beating the consensus estimate of a $0.04 loss. Recent insider activity also showed five open-market purchases and no sales over the past six months, including purchases by the CEO and other executives. These factors may provide some support for investor confidence. International Paper second-quarter results
• Neutral Sentiment: JPMorgan upgraded International Paper’s stock rating, while other recent analyst targets have been mixed. Institutional positioning was also divided, with some large investors adding shares and others making substantial reductions. JPMorgan International Paper rating update
• Negative Sentiment: Revenue totaled $6.00 billion, below roughly $6.2 billion in expectations and down 11.3% year over year. The company reported a $12 million loss from continuing operations, negative free cash flow of $7 million, and reduced profitability expectations. Management projected full-year adjusted EBITDA of $3.20 billion to $3.40 billion and warned that a temporary Pine Hill, Alabama, mill closure will reduce third-quarter EBITDA by about $85 million. Higher maintenance, input and freight costs are adding further pressure. Zacks International Paper earnings analysis
• Negative Sentiment: Analysts cut estimates for second- and third-quarter EPS, reinforcing concerns that maintenance outages, macroeconomic headwinds and weaker profitability could outweigh the quarterly earnings beat. International Paper EPS forecast revision

International Paper Trading Down 4.9%

NYSE:IP opened at $41.03 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $36.88 and its two-hundred day moving average is $38.04. International Paper Company has a 52 week low of $29.26 and a 52 week high of $52.28. The company has a market cap of $21.73 billion, a PE ratio of -6.29 and a beta of 0.94.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the firm earned $0.20 EPS. The business’s revenue was down 11.3% on a year-over-year basis. On average, analysts predict that International Paper Company will post 1.38 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s payout ratio is currently -29.09%.

International Paper Company 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.