International Paper Company $IP Shares Acquired by USS Investment Management Ltd

by · The Markets Daily

USS Investment Management Ltd increased its position in International Paper Company (NYSE:IP – Free Report) by 404.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,425 shares of the basic materials company’s stock after acquiring an additional 17,980 shares during the period. USS Investment Management Ltd’s holdings in International Paper were worth $1,196,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IP. UniSuper Management Pty Ltd increased its stake in International Paper by 101.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 87,665 shares of the basic materials company’s stock valued at $4,677,000 after buying an additional 44,118 shares during the period. Rise Advisors LLC increased its stake in International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock valued at $25,000 after buying an additional 346 shares during the period. Gotham Asset Management LLC increased its stake in International Paper by 14.2% during the 1st quarter. Gotham Asset Management LLC now owns 364,030 shares of the basic materials company’s stock valued at $19,421,000 after buying an additional 45,299 shares during the period. Eventide Asset Management LLC increased its stake in International Paper by 49.5% during the 1st quarter. Eventide Asset Management LLC now owns 870,435 shares of the basic materials company’s stock valued at $46,430,000 after buying an additional 288,236 shares during the period. Finally, Curi RMB Capital LLC increased its stake in International Paper by 116.4% during the 1st quarter. Curi RMB Capital LLC now owns 345,376 shares of the basic materials company’s stock valued at $18,426,000 after buying an additional 185,798 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. cut shares of International Paper from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Zacks Research cut shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. UBS Group started coverage on shares of International Paper in a research report on Wednesday, June 4th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.65.

Check Out Our Latest Analysis on IP

International Paper Stock Performance

NYSE:IP opened at $47.34 on Tuesday. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $49.73 and a 200-day moving average of $49.17. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of -473.40, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05.

International Paper (NYSE:IP – Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The business’s quarterly revenue was up 42.9% compared to the same quarter last year. Analysts forecast that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 15th. International Paper’s dividend payout ratio (DPR) is presently -1,850.00%.

About International Paper

(Free Report)

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.

Further Reading

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