MBB Public Markets I LLC Makes New Investment in International Paper Company $IP

MBB Public Markets I LLC purchased a new position in shares of International Paper Company (NYSE:IP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,866 shares of the basic materials company’s stock, valued at approximately $313,000.

Other large investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. raised its stake in International Paper by 2.0% during the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock worth $751,000 after purchasing an additional 282 shares during the period. Spire Wealth Management raised its stake in shares of International Paper by 2,343.9% in the 1st quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 1,547 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of International Paper by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company’s stock valued at $480,000 after acquiring an additional 231 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of International Paper by 37.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 22,378 shares of the basic materials company’s stock valued at $1,194,000 after acquiring an additional 6,077 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of International Paper by 3.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,320 shares of the basic materials company’s stock valued at $2,631,000 after acquiring an additional 1,680 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group assumed coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. downgraded shares of International Paper from an “overweight” rating to a “neutral” rating and cut their target price for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $43.00 target price (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, International Paper has a consensus rating of “Hold” and an average target price of $55.65.

International Paper Price Performance

IP opened at $46.88 on Wednesday. The company has a fifty day simple moving average of $49.67 and a 200 day simple moving average of $49.16. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of -468.80, a PEG ratio of 0.54 and a beta of 1.05. 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.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.18). The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. International Paper’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Equities research analysts expect that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

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

International Paper 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.