International Paper (NYSE:IP) Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its holdings in International Paper (NYSE:IP) by 13.6% in the 4th quarter, HoldingsChannel reports. The firm owned 43,547 shares of the basic materials company’s stock after purchasing an additional 5,207 shares during the quarter. UniSuper Management Pty Ltd’s holdings in International Paper were worth $2,344,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after buying an additional 340,383 shares during the period. Geode Capital Management LLC raised its stake in shares of International Paper by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,368,401 shares of the basic materials company’s stock valued at $407,463,000 after acquiring an additional 99,720 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in International Paper by 511.1% in the third quarter. Point72 Asset Management L.P. now owns 2,970,432 shares of the basic materials company’s stock valued at $145,106,000 after purchasing an additional 2,484,386 shares during the period. Artemis Investment Management LLP grew its stake in International Paper by 147.2% during the 4th quarter. Artemis Investment Management LLP now owns 2,019,806 shares of the basic materials company’s stock worth $108,706,000 after purchasing an additional 1,202,632 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in International Paper by 2.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,999,719 shares of the basic materials company’s stock worth $97,686,000 after purchasing an additional 42,151 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $53.23 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. International Paper has a 12 month low of $33.16 and a 12 month high of $60.36. The firm has a market capitalization of $28.01 billion, a P/E ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02. The company’s fifty day moving average price is $54.86 and its 200 day moving average price is $53.71.

International Paper (NYSE:IP) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. As a group, sell-side analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, February 24th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Monday, February 24th. International Paper’s dividend payout ratio is currently 117.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on IP shares. StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They issued an “overweight” rating and a $59.00 price objective on the stock. Bank of America initiated coverage on shares of International Paper in a research report on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Truist Financial reissued a “buy” rating and issued a $64.00 target price (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.32.

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.