Healthcare of Ontario Pension Plan Trust Fund Buys 12,303 Shares of International Paper Company $IP

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of International Paper Company (NYSE:IP) by 58.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,177 shares of the basic materials company’s stock after purchasing an additional 12,303 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in International Paper were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in IP. DNB Asset Management AS increased its stake in International Paper by 144.2% in the fourth quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company’s stock valued at $10,199,000 after acquiring an additional 152,907 shares during the last quarter. D.A. Davidson & CO. lifted its stake in International Paper by 29.6% during the first quarter. D.A. Davidson & CO. now owns 137,856 shares of the basic materials company’s stock worth $4,921,000 after purchasing an additional 31,518 shares during the last quarter. Alpha Omega Wealth Management LLC bought a new stake in International Paper during the fourth quarter worth about $1,539,000. Norges Bank purchased a new position in shares of International Paper in the 4th quarter worth about $250,093,000. Finally, Bellwether Advisors LLC purchased a new position in shares of International Paper in the 1st quarter worth about $2,615,000. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Loop Capital set a $61.00 price objective on International Paper in a report on Tuesday. UBS Group upped their target price on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a research report on Saturday. Seaport Research Partners raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. upgraded shares of International Paper from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $51.00 to $61.00 in a report on Tuesday, July 28th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average price target of $48.75.

International Paper Stock Down 4.9%

IP opened at $41.03 on Friday. International Paper Company has a 12 month low of $29.26 and a 12 month high of $52.28. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $36.88 and its 200-day moving average price is $38.04. The company has a market cap of $21.73 billion, a P/E ratio of -6.29 and a beta of 0.94.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the firm earned $0.20 EPS. The business’s quarterly revenue was down 11.3% on a year-over-year basis. On average, equities analysts expect that International Paper Company will post 1.38 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced 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 4.5%. International Paper’s dividend payout ratio (DPR) is currently -29.09%.

More 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 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.