Clearbridge Investments LLC Acquires 25,487 Shares of International Paper (NYSE:IP)

Clearbridge Investments LLC grew its holdings in International Paper (NYSE:IP) by 36.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,893 shares of the basic materials company’s stock after acquiring an additional 25,487 shares during the period. Clearbridge Investments LLC’s holdings in International Paper were worth $3,742,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of International Paper by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after buying an additional 4,960,005 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in International Paper by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,847,682 shares of the basic materials company’s stock valued at $319,844,000 after purchasing an additional 35,930 shares during the last quarter. Bank of New York Mellon Corp raised its stake in International Paper by 82.8% during the 1st quarter. Bank of New York Mellon Corp now owns 6,082,422 shares of the basic materials company’s stock valued at $237,336,000 after purchasing an additional 2,755,441 shares during the last quarter. Norges Bank acquired a new position in International Paper during the 4th quarter valued at $94,913,000. Finally, ING Groep NV increased its holdings in International Paper by 74.2% in the 4th quarter. ING Groep NV now owns 828,554 shares of the basic materials company’s stock valued at $29,952,000 after buying an additional 352,934 shares during the period. 81.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IP. Stifel Nicolaus began coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Jefferies Financial Group raised shares of International Paper from a “hold” rating to a “buy” rating and upped their target price for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Truist Financial upped their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company upped their target price on shares of International Paper from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $47.81.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the sale, the director now directly owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 3,600 shares of company stock worth $150,594 in the last ninety days. Company insiders own 0.55% of the company’s stock.

International Paper Trading Down 1.0 %

International Paper stock traded down $0.45 during trading hours on Thursday, reaching $45.83. 617,865 shares of the company’s stock traded hands, compared to its average volume of 5,765,234. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $47.40. The firm has a market capitalization of $15.92 billion, a price-to-earnings ratio of 94.45 and a beta of 1.06. The firm’s 50 day moving average is $44.49 and its 200-day moving average is $39.35.

International Paper (NYSE:IP) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. International Paper had a net margin of 0.93% and a return on equity of 7.45%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that International Paper will post 2.01 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a $0.4625 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.04%. International Paper’s dividend payout ratio is 377.55%.

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.