Charles Schwab Investment Management Inc. increased its position in shares of International Paper (NYSE:IP – Free Report) by 4.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,800,437 shares of the basic materials company’s stock after buying an additional 349,553 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in International Paper were worth $248,132,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of IP. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of International Paper by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock worth $2,391,000 after buying an additional 3,209 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of International Paper by 4.5% during the first quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock worth $399,000 after buying an additional 369 shares in the last quarter. Desjardins Global Asset Management Inc. grew its holdings in shares of International Paper by 45.5% during the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock worth $31,000 after buying an additional 211 shares in the last quarter. Cibc World Market Inc. acquired a new position in International Paper during the first quarter valued at approximately $206,000. Finally, Vontobel Holding Ltd. boosted its position in International Paper by 1.6% during the first quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock valued at $1,947,000 after purchasing an additional 676 shares during the last quarter. 80.78% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently commented on IP. Citigroup increased their price target on International Paper from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, July 31st. Jefferies Financial Group reduced their price target on International Paper from $33.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, October 18th. Truist Financial raised International Paper from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $43.00 in a research report on Thursday, September 21st. Finally, StockNews.com cut International Paper from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.89.
International Paper Stock Performance
IP opened at $33.62 on Friday. International Paper has a 12-month low of $29.00 and a 12-month high of $41.89. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 45.43 and a beta of 1.05. The business has a 50 day moving average of $34.26 and a 200-day moving average of $33.24. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 0.62.
International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. International Paper had a return on equity of 10.79% and a net margin of 1.31%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.81 billion. During the same period last year, the firm posted $1.01 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts expect that International Paper will post 2.1 earnings per share for the current year.
International Paper Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.85 annualized dividend and a yield of 5.50%. International Paper’s payout ratio is currently 250.00%.
International Paper Profile
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
- Five stocks we like better than International Paper
- Mega Cap Stocks: What They Are and How to Invest
- Williams-Sonoma is a steal for buy-and-hold investors
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- A closer look at Warren Buffett’s latest surprise purchase
- Stocks in the Dow: About the Dow Jones Industrial Average (DJIA)
- GE stock surges to six-year high: What’s behind the move?
Receive News & Ratings for International Paper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Paper and related companies with MarketBeat.com's FREE daily email newsletter.