International Paper Company (NYSE:IP) Stock Holdings Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of International Paper Company (NYSE:IP) by 61.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,390 shares of the basic materials company’s stock after acquiring an additional 25,284 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in International Paper were worth $3,533,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. SPC Financial Inc. grew its position 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 worth $759,000 after acquiring an additional 200 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of International Paper by 1.7% in the 4th quarter. Inspire Advisors LLC now owns 12,358 shares of the basic materials company’s stock valued at $665,000 after buying an additional 204 shares in the last quarter. Picton Mahoney Asset Management grew its stake in shares of International Paper by 67.0% in the 4th quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 215 shares during the period. Summit Financial LLC increased its position in shares of International Paper by 4.3% during the 4th quarter. Summit Financial LLC now owns 5,437 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 224 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings 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 worth $480,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Up 1.9%

Shares of NYSE IP opened at $50.37 on Thursday. The company has a market cap of $26.59 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 0.45 and a beta of 1.02. International Paper Company has a 52 week low of $42.26 and a 52 week high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $47.21 and its 200 day moving average is $51.21.

International Paper (NYSE:IP) last released its quarterly 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 return on equity of 4.05% and a net margin of 1.99%. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.38 billion. During the same period in the previous year, the company earned $0.17 earnings per share. International Paper’s quarterly revenue was up 27.8% on a year-over-year basis. On average, equities research analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a $0.4625 dividend. The ex-dividend date was Friday, May 23rd. This represents a $1.85 dividend on an annualized basis and a yield of 3.67%. International Paper’s dividend payout ratio is presently 158.12%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IP shares. Wall Street Zen raised shares of International Paper from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. UBS Group started coverage on International Paper in a research note on Wednesday, June 4th. They issued a “buy” rating and a $60.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $64.00 price objective on shares of International Paper in a research note on Wednesday, March 26th. Truist Financial set a $59.00 price target on shares of International Paper in a research note on Wednesday, May 28th. Finally, Citigroup initiated coverage on shares of International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has an average rating of “Hold” and a consensus price target of $54.54.

Insiders Place Their Bets

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the sale, the chief accounting officer owned 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

International Paper Company 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.