T. Rowe Price Associates, Inc. has recently announced that it has increased stake in International Paper Co. (NYSE:IP) by 1.57%. After grabbing 16.81 million shares, the institutional investor is now in possession of 0.26 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 4.86% having worth around $620.91 million. Moreover, Greenhaven Associates, Inc. increased its share by 0.69 million to have a control over 9.81 million shares. And Charles Schwab Investment Managem raised its holdings to 1.01 million shares by acquiring 8.81 million shares or 2.55% of the stake.
International Paper Co. (IP) concluded trading on 01/04/24 at a closing price of $36.47, with 2.9 million shares of worth about $105.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.52% during that period and on Thursday the price saw a gain of about 0.33%. Currently the company’s common shares owned by public are about 350.30M shares, out of which, 342.02M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 378,046 shares in 18 of the transactions. In 20 selling transactions, insiders dumped 208,564 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and iShares Tr. – Select Dividend ETF are the top 3 mutual funds which are holding stakes in International Paper Co. Vanguard Total Stock Market ETF is currently holding 10.83 million shares of worth totaling $400.24 million. The company recently came buying 12609.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 36856.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 8.35 million shares with the mutual fund that have a worth of about $308.54 million. iShares Tr. – Select Dividend ETF, after buying 8.03 million shares, have now control over 2.32% of the stake in the company. It holds 4013.0 shares of worth $296.56 million.
Stock saw a price change of 0.00% in past 5 days and over the past one month there was a price change of -2.38%. Year-to-date (YTD), IP shares are showing a performance of 0.89% which increased to 2.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $29.00 but also hit the highest price of $41.89 during that period. The average intraday trading volume for International Paper Co. shares is 3.06 million. The stock is currently trading -0.55% below its 20-day simple moving average (SMA20), while that difference is up 4.24% for SMA50 and it goes to 7.33% higher than SMA200.
T. Rowe Price Associates, Inc. acquired 16.81 million shares of International Paper Co. having value of about $620.91 million. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. revealed that the firm now holds 0.26 million shares in the company valued at close to $9451236.97, or have control over 1.57% stake in the company. International Paper Co. (NYSE: IP) currently have 350.30M outstanding shares and institutions hold larger chunk of about 82.27% of that. Holding of mutual funds in the company is about 35.32% while other institutional holders and individual stake holders have control over 47.79% and 2.17% of the stake respectively.
The stock has a current market capitalization of $12.62B and its 3Y-monthly beta is at 0.98. PE ratio of stock for trailing 12 months is 16.86, while it has posted earnings per share of $2.16 in the same period. Its PEG reads 0.88 and has Quick Ratio of 1.25 while making debt-to-equity ratio of 0.93. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IP, volatility over the week remained 1.37% while standing at 1.68% over the month.
Analysts are in expectations that International Paper Co. (IP) stock would likely to be making an EPS of $0.35 in the current quarter, while forecast for next quarter EPS is $0.37 and it is $2.14 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.34 which is $0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.87 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -45.75% while it is estimated to decrease by -2.08% in next year. EPS is likely to grow at an annualized rate of 19.20% for next 5-years, compared to annual growth of -1.56% made by the stock over the past 5-years.
Analysts at 10 brokerage firms have issued recommendations for the International Paper Co. (IP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 10 Wall Street analysts, 2 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on September 27, 2023 offering a Hold rating for the stock and assigned a target price range of between $26 and $33 to it.
