UniSuper Management Pty Ltd Acquires 24,828 Shares of International Paper (NYSE:IP)

UniSuper Management Pty Ltd boosted its stake in shares of International Paper (NYSE:IP) by 590.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,031 shares of the basic materials company’s stock after buying an additional 24,828 shares during the quarter. UniSuper Management Pty Ltd’s holdings in International Paper were worth $1,133,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position in shares of International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 475 shares during the period. CVA Family Office LLC bought a new position in International Paper during the fourth quarter valued at $27,000. MCF Advisors LLC increased its position in International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after buying an additional 624 shares during the last quarter. Assetmark Inc. increased its position in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of International Paper in the fourth quarter valued at $36,000. Institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the transaction, the director now directly owns 43,402 shares in the company, valued at approximately $1,957,864.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 3,600 shares of company stock worth $150,594. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of several recent research reports. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Stifel Nicolaus initiated coverage on shares of International Paper in a research report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Truist Financial upped their price target on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Wells Fargo & Company lifted their price objective on shares of International Paper from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.81.

International Paper Price Performance

Shares of IP traded up $0.36 during mid-day trading on Wednesday, reaching $46.28. 14,857,109 shares of the stock traded hands, compared to its average volume of 5,801,740. The company has a market cap of $16.07 billion, a price-to-earnings ratio of 94.45 and a beta of 1.06. International Paper has a 1 year low of $31.76 and a 1 year high of $47.40. The firm has a fifty day moving average price of $44.35 and a 200 day moving average price of $39.30. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IP) last posted its earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. International Paper’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that International Paper will post 2.01 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.00%. International Paper’s payout ratio is 377.55%.

International Paper Profile

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.