Nuveen Asset Management LLC Raises Stock Holdings in International Paper (NYSE:IP)

Nuveen Asset Management LLC grew its stake in International Paper (NYSE:IP) by 26.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,053,574 shares of the basic materials company’s stock after acquiring an additional 222,392 shares during the quarter. Nuveen Asset Management LLC owned about 0.30% of International Paper worth $56,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SPC Financial Inc. increased its stake in International Paper by 1.4% in the fourth quarter. SPC Financial Inc. now owns 14,100 shares of the basic materials company’s stock valued at $759,000 after purchasing an additional 200 shares during the last quarter. AlphaMark Advisors LLC increased its stake in International Paper by 5.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,814 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 204 shares during the last quarter. Inspire Advisors LLC increased its stake in International Paper by 1.7% in the fourth quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 204 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in International Paper by 14.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,601 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 205 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its stake in International Paper by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,244 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 212 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IP shares. Bank of America started coverage on International Paper in a research note on Thursday, February 13th. They issued a “neutral” rating for the company. Citigroup began coverage on International Paper in a research note on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Truist Financial dropped their price target on International Paper from $64.00 to $59.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. StockNews.com lowered International Paper from a “hold” rating to a “sell” rating in a research note on Monday, May 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of International Paper in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, International Paper presently has an average rating of “Hold” and an average target price of $54.21.

Insider Activity

In related news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the transaction, the chief accounting officer now owns 31,525 shares of the company’s stock, valued at approximately $1,413,896.25. This represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

International Paper Price Performance

IP stock opened at $50.14 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.49. International Paper has a 1 year low of $40.39 and a 1 year high of $60.36. The firm has a market cap of $26.47 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The stock has a 50-day simple moving average of $48.72 and a 200-day simple moving average of $53.42.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). International Paper had a net margin of 2.99% and a return on equity of 4.75%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the business posted $0.17 EPS. International Paper’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities analysts predict that International Paper will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a $0.4625 dividend. The ex-dividend date is Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.69%. International Paper’s dividend payout ratio (DPR) is currently 158.12%.

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.