Eurizon Capital SGR S.p.A. Acquires New Stake in International Paper Company $IP

Eurizon Capital SGR S.p.A. acquired a new stake in shares of International Paper Company (NYSE:IP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 283,654 shares of the basic materials company’s stock, valued at approximately $11,174,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in International Paper by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock valued at $2,535,058,000 after acquiring an additional 310,834 shares during the period. Capital Research Global Investors boosted its holdings in International Paper by 7.5% during the 3rd quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock valued at $2,520,945,000 after acquiring an additional 3,768,772 shares during the period. Capital International Investors boosted its holdings in International Paper by 51.4% during the 3rd quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock valued at $2,272,966,000 after acquiring an additional 16,622,062 shares during the period. State Street Corp increased its holdings in International Paper by 0.8% during the 3rd quarter. State Street Corp now owns 29,612,060 shares of the basic materials company’s stock worth $1,374,000,000 after purchasing an additional 225,444 shares during the period. Finally, Geode Capital Management LLC increased its holdings in International Paper by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 13,577,185 shares of the basic materials company’s stock worth $532,744,000 after purchasing an additional 115,558 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In related news, Director Scott Tozier purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the acquisition, the director owned 10,025 shares of the company’s stock, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anders Gustafsson purchased 13,217 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the acquisition, the director directly owned 26,092 shares in the company, valued at approximately $987,060.36. This trade represents a 102.66% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 36,092 shares of company stock worth $1,313,064 over the last quarter. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on IP. Stifel Nicolaus reduced their price objective on International Paper from $51.80 to $50.70 and set a “buy” rating on the stock in a report on Monday, February 9th. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. Truist Financial reduced their price objective on International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. BNP Paribas Exane reduced their price objective on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Finally, Wells Fargo & Company upgraded International Paper from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $39.00 in a report on Monday, May 4th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

International Paper Trading Up 0.0%

Shares of NYSE:IP opened at $33.47 on Monday. International Paper Company has a 12-month low of $29.26 and a 12-month high of $56.13. The business’s fifty day simple moving average is $33.91 and its 200-day simple moving average is $38.53. The company has a market capitalization of $17.73 billion, a PE ratio of -5.26 and a beta of 0.96. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the business posted $0.17 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts predict that International Paper Company will post 1.38 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a $0.4625 dividend. The ex-dividend date is Friday, May 22nd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.5%. International Paper’s dividend payout ratio (DPR) is currently -29.09%.

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.