OP Asset Management Ltd Takes $1.86 Million Position in International Paper Company $IP

OP Asset Management Ltd bought a new stake in shares of International Paper Company (NYSE:IP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 52,006 shares of the basic materials company’s stock, valued at approximately $1,857,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC lifted its position in International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of International Paper in the fourth quarter worth approximately $25,000. DV Equities LLC bought a new position in shares of International Paper in the fourth quarter worth approximately $29,000. Sound Income Strategies LLC increased its stake in shares of International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after buying an additional 344 shares during the period. Finally, Summit Securities Group LLC increased its stake in shares of International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock worth $31,000 after buying an additional 5,875 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Up 0.2%

NYSE IP opened at $38.84 on Monday. The stock’s 50 day moving average is $33.86 and its 200 day moving average is $38.16. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $20.57 billion, a PE ratio of -6.11 and a beta of 0.96. International Paper Company has a twelve month low of $29.26 and a twelve month high of $56.13.

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

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.85 annualized dividend and a yield of 4.8%. International Paper’s payout ratio is presently -29.09%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IP. Weiss Ratings cut shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. 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 report on Friday, May 1st. Citigroup lowered their price objective 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. Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Finally, Royal Bank Of Canada reduced their price target on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

Insiders Place Their Bets

In other International Paper news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was acquired at an average price of $31.30 per share, with a total value of $313,000.00. Following the completion of the purchase, the director owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

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.