AIA Group Ltd Invests $568,000 in International Paper (NYSE:IP)

AIA Group Ltd purchased a new position in shares of International Paper (NYSE:IP) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,548 shares of the basic materials company’s stock, valued at approximately $568,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IP. Ables Iannone Moore & Associates Inc. purchased a new stake in International Paper during the 4th quarter worth about $37,000. StrategIQ Financial Group LLC purchased a new stake in International Paper in the 4th quarter valued at about $2,271,000. Wellington Management Group LLP grew its holdings in International Paper by 1,896.7% in the 4th quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after buying an additional 199,687 shares during the period. Franklin Resources Inc. grew its holdings in International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after buying an additional 4,960,005 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in International Paper in the 1st quarter valued at about $1,312,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $46.00 in a report on Wednesday, March 20th. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Stifel Nicolaus began coverage on International Paper in a report on Tuesday. They issued a “hold” rating and a $48.70 price target for the company. Truist Financial reiterated a “buy” rating and set a $52.00 target price on shares of International Paper in a report on Thursday, June 27th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.46.

International Paper Stock Up 1.7 %

International Paper stock traded up $0.72 during midday trading on Friday, hitting $43.63. 3,594,475 shares of the company were exchanged, compared to its average volume of 5,749,026. The company’s fifty day moving average price is $43.42 and its 200-day moving average price is $38.82. The company has a market cap of $15.15 billion, a PE ratio of 89.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22. International Paper has a fifty-two week low of $30.78 and a fifty-two week high of $47.40.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 25th. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a net margin of 0.93% and a return on equity of 7.45%. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, research analysts predict that International Paper will post 1.9 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Insider Activity at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the transaction, the director now directly owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders have sold 3,600 shares of company stock valued at $147,054. Corporate insiders own 0.55% of the company’s stock.

International Paper Company Profile

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.