Capital Research Global Investors Has $2.15 Billion Position in International Paper Company $IP

Capital Research Global Investors raised its position in shares of International Paper Company (NYSE:IP) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,535,444 shares of the basic materials company’s stock after purchasing an additional 204,654 shares during the quarter. Capital Research Global Investors owned 10.33% of International Paper worth $2,148,154,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 310,834 shares during the period. Capital International Investors increased its stake in shares of International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after acquiring an additional 14,422,616 shares during the last quarter. State Street Corp increased its stake in shares of International Paper by 0.8% in the third quarter. State Street Corp now owns 29,612,060 shares of the basic materials company’s stock worth $1,374,000,000 after acquiring an additional 225,444 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of International Paper by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 13,577,185 shares of the basic materials company’s stock worth $532,744,000 after acquiring an additional 115,558 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of International Paper by 11.8% in the third quarter. Invesco Ltd. now owns 9,121,170 shares of the basic materials company’s stock worth $423,222,000 after acquiring an additional 960,240 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Down 0.7%

Shares of NYSE:IP opened at $33.66 on Friday. The company has a market cap of $17.82 billion, a P/E ratio of -5.29 and a beta of 0.96. The stock’s 50-day moving average is $33.76 and its 200-day moving average is $38.37. International Paper Company has a 52-week low of $29.26 and a 52-week high of $56.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. Equities research analysts predict that International Paper Company will post 1.38 earnings per share for the current year.

International Paper Dividend Announcement

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

Insider Activity

In related news, Director Anders Gustafsson bought 13,217 shares of International Paper stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the completion of the purchase, the director owned 26,092 shares in the company, valued at approximately $987,060.36. This represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Tozier bought 10,000 shares of International Paper stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $31.30 per share, with a total value of $313,000.00. Following the purchase, the director owned 10,025 shares of the company’s stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 36,092 shares of company stock valued at $1,313,064. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Truist Financial dropped their price target on shares of International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Zacks Research downgraded shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Weiss Ratings downgraded shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. cut their target price on International Paper from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

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.