ProShare Advisors LLC Has $6 Million Holdings in International Paper Company $IP

ProShare Advisors LLC lifted its position in shares of International Paper Company (NYSE:IP) by 44.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,365 shares of the basic materials company’s stock after buying an additional 46,758 shares during the quarter. ProShare Advisors LLC’s holdings in International Paper were worth $6,002,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IP. Dynamic Technology Lab Private Ltd acquired a new stake in shares of International Paper during the first quarter worth $249,000. Intech Investment Management LLC increased its position in shares of International Paper by 100.5% during the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock worth $1,709,000 after buying an additional 16,055 shares during the period. Cresset Asset Management LLC increased its position in shares of International Paper by 20.8% during the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after buying an additional 2,981 shares during the period. Jump Financial LLC increased its position in shares of International Paper by 280.9% during the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock worth $1,784,000 after buying an additional 28,092 shares during the period. Finally, Cerity Partners LLC increased its position in shares of International Paper by 8.0% during the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after buying an additional 2,493 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other International Paper news, Director Anders Gustafsson acquired 13,217 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average cost of $37.83 per share, with a total value of $499,999.11. Following the completion of the purchase, the director owned 26,092 shares of the company’s stock, valued at approximately $987,060.36. This represents a 102.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Tozier acquired 10,000 shares of the company’s stock in a transaction on 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 directly owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This represents a 40,000.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 36,092 shares of company stock worth $1,313,064 over the last ninety days. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IP. BNP Paribas Exane decreased their price objective 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 cut shares of International Paper from a “hold” rating to a “strong sell” rating in a report on Thursday, April 23rd. Wells Fargo & Company upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $38.00 to $39.00 in a report on Monday, May 4th. JPMorgan Chase & Co. reduced their price target on shares of International Paper from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, May 1st. Finally, Truist Financial reduced their price target on shares of International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

International Paper Trading Down 0.7%

NYSE:IP opened at $31.28 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of -4.92 and a beta of 0.93. The firm has a fifty day simple moving average of $34.33 and a two-hundred day simple moving average of $38.68. International Paper Company has a 12 month low of $29.26 and a 12 month high of $56.13.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts expect that International Paper Company will post 1.38 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is -29.09%.

About International Paper

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.