International Paper Company $IP Shares Acquired by Eventide Asset Management LLC

Eventide Asset Management LLC lifted its position in shares of International Paper Company (NYSE:IP) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 726,220 shares of the basic materials company’s stock after acquiring an additional 20,423 shares during the quarter. Eventide Asset Management LLC owned 0.14% of International Paper worth $28,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC boosted its holdings in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after buying an additional 525 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after buying an additional 344 shares in the last quarter. MCF Advisors LLC boosted its holdings in International Paper by 36.7% during the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock worth $34,000 after buying an additional 229 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in International Paper during the third quarter worth about $36,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in International Paper during the fourth quarter worth about $37,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Up 3.3%

Shares of NYSE IP opened at $36.11 on Friday. International Paper Company has a 12-month low of $29.26 and a 12-month high of $56.13. The company has a market capitalization of $19.12 billion, a PE ratio of -5.68 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.94. The firm’s 50-day moving average is $33.60 and its two-hundred day moving average is $38.28.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. Equities analysts anticipate that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.85 annualized dividend and a dividend yield of 5.1%. International Paper’s dividend payout ratio is presently -29.09%.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of International Paper from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $38.00 to $39.00 in a report on Monday, May 4th. UBS Group decreased their price objective on shares of International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada decreased their price objective on shares of International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Truist Financial decreased their price objective on shares of International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $43.73.

Insider Activity

In other news, Director Scott Tozier acquired 10,000 shares of International Paper stock in a transaction that occurred on Friday, May 1st. The shares were acquired at an average price of $31.30 per share, with a total value of $313,000.00. Following the completion of the purchase, the director owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This represents a 40,000.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

About International Paper

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.