T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in International Paper Co. (NYSE:IP). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.57% to 16.81 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 4.86% valued currently at $620.91 million. In addition, Greenhaven Associates, Inc. raised its holdings by 0.69 million to 9.81 million shares. And Charles Schwab Investment Managem has lifted its position by 12.96% or 1.01 million shares – to 8.81 million shares.
Currently, there are 350.30M common shares owned by the public and among those 342.02M shares have been available to trade.
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Insiders at the company have transacted a total of 49 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 520,956 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 208,564 shares.
The top 3 mutual fund holders in International Paper Co. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and iShares Tr. – Select Dividend ETF. Vanguard Total Stock Market ETF owns 10.82 million shares of the company’s stock, all valued at over $399.78 million. The company bought an additional 66604.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 36856.0 shares to see its total holdings expand to 8.35 million shares valued at over $308.54 million and representing 2.41% of the shares outstanding. iShares Tr. – Select Dividend ETF bought 4013.0 shares to bring its total holdings to over 8.03 million shares at a value of $296.56 million. iShares Tr. – Select Dividend ETF now owns shares totaling to 2.32% of the shares outstanding.
However, the script later moved the day high at 37.26, up 0.05%. The company’s stock has a 5-day price change of 2.25% and 9.31% over the past three months. IP shares are trading 6.44% year to date (YTD), with the 12-month market performance up to 3.51% higher. It has a 12-month low price of $29.00 and touched a high of $41.89 over the same period. IP has an average intraday trading volume of 3.13 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 3.10%, 6.29%, and 8.63% respectively.
Institutional ownership of International Paper Co. (NYSE: IP) shares accounts for 82.31% of the company’s 350.30M shares outstanding. Mutual fund holders own 35.12%, while other institutional holders and individual stakeholders account for 48.05% and 2.17% respectively.
It has a market capitalization of $12.75B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 17.04, while the earnings-per-share (ttm) stands at $2.16. The company has a PEG of 0.89 and a Quick Ratio of 1.25 with the debt-to-equity ratio at 0.93. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.50% over the week and 2.46% over the month.
Analysts forecast that International Paper Co. (IP) will achieve an EPS of $0.34 for the current quarter, $0.37 for the next quarter and $2.09 for 2024. The lowest estimate earnings-per-share for the quarter is $0.32 while analysts give the company a high EPS estimate of $0.38. Comparatively, EPS for the current quarter was $0.87 a year ago. Earnings per share for the fiscal year are expected to decrease by -45.82%, and -5.65% over the next financial year. EPS should grow at an annualized rate of 19.20% over the next five years, compared to -1.56% over the past 5-year period.
Looking at the support for the IP, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on September 27, 2023, with the firm’s price target at $26-$33.
