BlackRock Fund Advisors recently announced the acquisition of new stake in International Paper Company (NYSE:IP). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.76% to 26.9 million shares with purchase of 0.46 million shares. This fresh investment now brings its stake to 7.68% valued currently at $978.76 million. In addition, Charles Schwab Investment Managem raised its holdings by 0.64 million to 7.91 million shares. And Invesco Advisers, Inc. has lifted its position by 4.92% or 0.3 million shares – to 6.33 million shares.
With over 3.29 million International Paper Company (IP) shares trading Monday and a closing price of $34.85 on the day, the dollar volume was approximately $114.64 million. The shares have shown a negative half year performance of -16.47% and its price on 03/13/23 lost nearly -1.89%. Currently, there are 353.60M common shares owned by the public and among those 346.48M shares have been available to trade.
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Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 431,978 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 204,746 shares.
The top 3 mutual fund holders in International Paper Company are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 10.92 million shares of the company’s stock, all valued at over $397.24 million. The company bought an additional 90827.0 shares recently to bring their total holdings to about 3.12% of the shares outstanding. Vanguard Mid Cap Index Fund bought 13330.0 shares to see its total holdings expand to 8.28 million shares valued at over $301.45 million and representing 2.37% of the shares outstanding. Vanguard 500 Index Fund bought 19483.0 shares to bring its total holdings to over 8.24 million shares at a value of $299.92 million. Vanguard 500 Index Fund now owns shares totaling to 2.35% of the shares outstanding.
Shares of International Paper Company (NYSE: IP) opened at $35.00, down -$0.52 from a prior closing price of $35.52. However, the script later moved the day high at 35.50, down -1.89%. The company’s stock has a 5-day price change of -4.83% and -3.65% over the past three months. IP shares are trading 0.64% year to date (YTD), with the 12-month market performance down to -17.10% lower. It has a 12-month low price of $30.69 and touched a high of $50.23 over the same period. IP has an average intraday trading volume of 3.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.44%, -7.25%, and -9.94% respectively.
Institutional ownership of International Paper Company (NYSE: IP) shares accounts for 88.10% of the company’s 353.60M shares outstanding. Mutual fund holders own 33.55%, while other institutional holders and individual stakeholders account for 51.93% and 2.17% respectively.
It has a market capitalization of $12.43B and a beta (3y monthly) value of 1.05. The stock’s trailing 12-month PE ratio is 7.36, while the earnings-per-share (ttm) stands at $4.74. The company has a PEG of 0.38 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.29% over the week and 2.29% over the month.
Analysts forecast that International Paper Company (IP) will achieve an EPS of $0.46 for the current quarter, $0.76 for the next quarter and $2.99 for 2024. The lowest estimate earnings-per-share for the quarter is $0.4 while analysts give the company a high EPS estimate of $0.59. Comparatively, EPS for the current quarter was $0.76 a year ago. Earnings per share for the fiscal year are expected to increase by 129.50%, and 5.49% over the next financial year. EPS should grow at an annualized rate of 19.20% over the next five years, compared to 17.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate International Paper Company (IP) as a “Hold” at a consensus score of 3.10. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 11 of the 14 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the IP, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on February 03, 2023, with the firm’s price target at $31-$43. Deutsche Bank coverage for the International Paper Company (IP) stock in a research note released on October 18, 2022 offered a Sell rating with a price target of $29. Jefferies was of a view on September 16, 2022 that the stock is Underperform, while Wells Fargo gave the stock Equal Weight rating on July 18, 2022, issuing a price target of $58- $47. Citigroup on their part issued Neutral rating on June 21, 2022.
