Elo Mutual Pension Insurance Co Grows Holdings in International Paper (NYSE:IP)

Elo Mutual Pension Insurance Co increased its stake in shares of International Paper (NYSE:IP) by 14.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,403 shares of the basic materials company’s stock after purchasing an additional 4,093 shares during the period. Elo Mutual Pension Insurance Co’s holdings in International Paper were worth $1,798,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of International Paper by 11.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 564,045 shares of the basic materials company’s stock worth $29,810,000 after buying an additional 58,591 shares during the period. Korea Investment CORP lifted its stake in International Paper by 220.6% during the 4th quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company’s stock worth $16,720,000 after acquiring an additional 213,783 shares in the last quarter. CMC Financial Group purchased a new position in International Paper during the 4th quarter valued at about $218,000. Vanguard Group Inc. grew its position in International Paper by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 41,195,085 shares of the basic materials company’s stock valued at $2,217,119,000 after acquiring an additional 340,383 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in International Paper during the fourth quarter worth about $403,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Down 2.5 %

International Paper stock opened at $53.23 on Friday. The stock has a market cap of $28.01 billion, a PE ratio of 33.90, a P/E/G ratio of 0.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.49 and a quick ratio of 1.08. The stock’s fifty day moving average is $54.86 and its two-hundred day moving average is $53.71. International Paper has a 1-year low of $33.16 and a 1-year high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). International Paper had a return on equity of 4.75% and a net margin of 2.99%. On average, sell-side analysts expect that International Paper will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.4625 per share. The ex-dividend date was Monday, February 24th. This represents a $1.85 annualized dividend and a dividend yield of 3.48%. International Paper’s dividend payout ratio is presently 117.83%.

Analyst Ratings Changes

IP has been the subject of several recent research reports. StockNews.com lowered shares of International Paper from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $64.00 price target on shares of International Paper in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price objective on the stock. Citigroup started coverage on International Paper in a report on Wednesday, March 5th. They issued a “buy” rating and a $60.00 target price for the company. Finally, Truist Financial restated a “buy” rating and set a $64.00 price target (down previously from $65.00) on shares of International Paper in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, International Paper presently has a consensus rating of “Moderate Buy” and an average target price of $55.32.

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.