Capital International Investors Purchases 14,422,616 Shares of International Paper Company $IP

Capital International Investors raised its position in shares of International Paper Company (NYSE:IP) by 29.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,413,335 shares of the basic materials company’s stock after purchasing an additional 14,422,616 shares during the quarter. Capital International Investors owned 12.01% of International Paper worth $2,498,013,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC raised its stake in shares of International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock valued at $25,000 after buying an additional 525 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of International Paper by 94.0% during the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after buying an additional 344 shares during the last quarter. MCF Advisors LLC raised its stake in shares of International Paper by 36.7% during the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after buying an additional 229 shares during the last quarter. Kelleher Financial Advisors purchased a new position in shares of International Paper during the 3rd quarter valued at about $36,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of International Paper during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 0.7%

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

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

International Paper Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup dropped their target price on International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on International Paper in a research report on Wednesday, April 1st. They set a “hold” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on International Paper from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada dropped their target price on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, BNP Paribas Exane dropped their target price on International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.73.

Insider Activity

In other International Paper news, Director Scott Tozier purchased 10,000 shares of the 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 completion of the transaction, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Anders Gustafsson bought 13,217 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of $37.83 per share, for a total transaction of $499,999.11. Following the transaction, the director owned 26,092 shares of the company’s stock, valued at $987,060.36. The trade was a 102.66% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 36,092 shares of company stock valued at $1,313,064 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

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.