Elo Mutual Pension Insurance Co Increases Position in International Paper (NYSE:IP)

Elo Mutual Pension Insurance Co boosted its holdings in shares of International Paper (NYSE:IP) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,403 shares of the basic materials company’s stock after purchasing an additional 4,093 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in International Paper were worth $1,798,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of International Paper by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after buying an additional 340,383 shares in the last quarter. Geode Capital Management LLC raised its position in International Paper by 1.2% during the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock worth $407,463,000 after acquiring an additional 99,720 shares during the period. Point72 Asset Management L.P. lifted its holdings in International Paper by 511.1% during the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after purchasing an additional 2,484,386 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of International Paper by 147.2% in the fourth quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock valued at $108,706,000 after purchasing an additional 1,202,632 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of International Paper by 2.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company’s stock worth $97,686,000 after purchasing an additional 42,151 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Down 2.5 %

NYSE IP opened at $53.23 on Friday. The business’s fifty day simple moving average is $54.86 and its 200-day simple moving average is $53.71. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.66. The firm has a market cap of $28.01 billion, a PE ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02. International Paper has a 52 week low of $33.16 and a 52 week high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, equities analysts anticipate that International Paper will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, February 24th were given a $0.4625 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.85 annualized dividend and a yield of 3.48%. International Paper’s payout ratio is 117.83%.

Analyst Upgrades and Downgrades

IP has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research note on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price target on the stock. Citigroup started coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $64.00 price objective on shares of International Paper in a research note on Wednesday. Truist Financial restated a “buy” rating and issued a $64.00 price objective (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. Finally, StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.32.

International Paper Company 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.