Cozad Asset Management Inc. Buys 4,504 Shares of International Paper (NYSE:IP)

Cozad Asset Management Inc. increased its holdings in International Paper (NYSE:IP) by 13.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,685 shares of the basic materials company’s stock after acquiring an additional 4,504 shares during the quarter. Cozad Asset Management Inc.’s holdings in International Paper were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after purchasing an additional 4,960,005 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of International Paper by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock worth $319,844,000 after purchasing an additional 35,930 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of International Paper by 82.8% in the first quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock worth $237,336,000 after purchasing an additional 2,755,441 shares during the last quarter. Norges Bank bought a new position in shares of International Paper in the fourth quarter worth about $94,913,000. Finally, ING Groep NV lifted its stake in International Paper by 74.2% in the fourth quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock worth $29,952,000 after acquiring an additional 352,934 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Performance

Shares of NYSE:IP traded up $0.24 during trading on Wednesday, reaching $45.75. The company had a trading volume of 6,998,358 shares, compared to its average volume of 5,751,880. The stock’s fifty day moving average price is $43.83 and its 200 day moving average price is $39.02. International Paper has a fifty-two week low of $30.78 and a fifty-two week high of $47.40. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of 93.37 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IP) last announced its quarterly 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). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts predict that International Paper will post 1.97 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 4.04%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Upgrades and Downgrades

IP has been the subject of a number of research reports. Stifel Nicolaus assumed coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective for the company. Truist Financial increased their price target on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $45.84.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the 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 owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 3,600 shares of company stock worth $150,594 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

About International Paper

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.