Eventide Asset Management LLC Increases Position in International Paper Company $IP

Eventide Asset Management LLC lifted its position in shares of International Paper Company (NYSE:IP) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 726,220 shares of the basic materials company’s stock after buying an additional 20,423 shares during the period. Eventide Asset Management LLC’s holdings in International Paper were worth $28,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of IP. Capital International Investors lifted its stake in shares of International Paper by 51.4% during the third quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock valued at $2,272,966,000 after buying an additional 16,622,062 shares during the period. Franklin Resources Inc. increased its position in International Paper by 81.6% during the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock worth $584,270,000 after purchasing an additional 6,663,986 shares during the last quarter. Norges Bank acquired a new position in International Paper during the fourth quarter worth approximately $250,093,000. Capital Research Global Investors increased its position in International Paper by 7.5% during the third quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock worth $2,520,945,000 after purchasing an additional 3,768,772 shares during the last quarter. Finally, Atlas FRM LLC increased its position in International Paper by 56.3% during the fourth quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock worth $196,950,000 after purchasing an additional 1,800,000 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was acquired at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director owned 10,025 shares of the company’s stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

International Paper Price Performance

International Paper stock opened at $36.11 on Friday. International Paper Company has a 52-week low of $29.26 and a 52-week high of $56.13. The firm has a fifty day moving average of $33.60 and a 200-day moving average of $38.28. The firm has a market capitalization of $19.12 billion, a P/E ratio of -5.68 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm 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%. International Paper’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 earnings per share. As a group, analysts predict that International Paper Company will post 1.38 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were paid a $0.4625 dividend. The ex-dividend date 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 -29.09%.

Analyst Ratings Changes

Several equities analysts recently commented on IP shares. Royal Bank Of Canada dropped their price target on shares of International Paper from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of International Paper in a research report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target for the company. BNP Paribas Exane dropped their price target on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Zacks Research lowered shares of International Paper from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 23rd. Finally, Citigroup dropped their price target on shares of International Paper from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

International Paper Profile

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.