Jupiter Topco LLC Acquires New Holdings in International Paper Company $IP

Jupiter Topco LLC bought a new position in shares of International Paper Company (NYSE:IP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 116,720 shares of the basic materials company’s stock, valued at approximately $4,445,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors grew its position in shares of International Paper by 29.4% during the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after purchasing an additional 14,422,616 shares in the last quarter. Capital Research Global Investors boosted its stake in International Paper by 0.4% during the fourth quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after buying an additional 204,654 shares during the period. BlackRock Inc. purchased a new position in International Paper during the second quarter worth about $1,940,896,000. State Street Corp grew its position in International Paper by 1.3% during the fourth quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock worth $1,182,083,000 after buying an additional 397,673 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in International Paper in the 2nd quarter worth about $689,498,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

International Paper Trading Down 3.4%

Shares of IP opened at $37.96 on Tuesday. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of -5.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The firm has a 50 day moving average price of $39.64 and a 200-day moving average price of $37.67.

International Paper (NYSE:IP) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. As a group, equities research analysts forecast that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.9%. International Paper’s payout ratio is currently -28.37%.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares in the company, valued at $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Truist Financial reaffirmed a “buy” rating and issued a $49.00 target price (up from $46.00) on shares of International Paper in a research note on Friday, July 31st. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.75.

About International Paper

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.