International Paper Company $IP Holdings Raised by Bessemer Group Inc.

Bessemer Group Inc. increased its stake in International Paper Company (NYSE:IPFree Report) by 41.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,313,516 shares of the basic materials company’s stock after purchasing an additional 966,591 shares during the quarter. Bessemer Group Inc. owned approximately 0.63% of International Paper worth $118,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. MCF Advisors LLC increased its position in shares of International Paper by 36.7% in the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 229 shares in the last quarter. Rothschild Investment LLC boosted its stake in International Paper by 4.2% in the 4th quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 242 shares during the period. International Private Wealth Advisors LLC grew its position in International Paper by 4.1% during the 4th quarter. International Private Wealth Advisors LLC now owns 6,175 shares of the basic materials company’s stock worth $243,000 after purchasing an additional 243 shares in the last quarter. Independent Advisor Alliance grew its position in International Paper by 3.3% during the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 244 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in International Paper by 3.3% during the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 267 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

IP opened at $37.53 on Friday. The stock has a fifty day moving average price of $35.04 and a 200 day moving average price of $38.04. 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 Company has a 1 year low of $29.26 and a 1 year high of $56.13. The stock has a market cap of $19.87 billion, a price-to-earnings ratio of -5.90 and a beta of 0.94.

International Paper (NYSE:IPGet Free Report) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. Analysts forecast that International Paper Company will post 1.39 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s dividend payout ratio (DPR) is presently -29.09%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group decreased their target price on International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Truist Financial increased their price objective on International Paper from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup raised their price objective on International Paper from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Royal Bank Of Canada lifted their target price on International Paper from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company upped their target price on International Paper from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.31.

Read Our Latest Stock Report on International Paper

Insiders Place Their Bets

In other International Paper news, Director Scott Tozier bought 10,000 shares of International Paper stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Trending Headlines about International Paper

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About International Paper

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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