Grantham Mayo Van Otterloo & Co. LLC Buys 16,500 Shares of International Paper Company $IP

by · The Markets Daily

Grantham Mayo Van Otterloo & Co. LLC grew its position in International Paper Company (NYSE:IP – Free Report) by 137.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 28,500 shares of the basic materials company’s stock after acquiring an additional 16,500 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in International Paper were worth $1,335,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of IP. State Board of Administration of Florida Retirement System increased its position in International Paper by 1.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 465,026 shares of the basic materials company’s stock valued at $21,777,000 after acquiring an additional 8,620 shares during the period. Johnson Financial Group Inc. raised its position in shares of International Paper by 19.7% during the second quarter. Johnson Financial Group Inc. now owns 6,306 shares of the basic materials company’s stock worth $295,000 after acquiring an additional 1,040 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in International Paper in the second quarter valued at approximately $35,000. Quadrant Capital Group LLC increased its position in International Paper by 10.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,123 shares of the basic materials company’s stock valued at $427,000 after purchasing an additional 869 shares during the period. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of International Paper in the 2nd quarter valued at $210,000. 81.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Joseph R. Saab sold 9,000 shares of International Paper stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president owned 27,673 shares of the company’s stock, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.35% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen downgraded International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a research report on Monday, November 24th. Bank of America upgraded shares of International Paper from a “neutral” rating to a “buy” rating and raised their price target for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. BNP Paribas Exane upgraded shares of International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Monday, November 24th. Finally, Royal Bank Of Canada decreased their target price on International Paper from $61.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.62.

Get Our Latest Analysis on IP

International Paper Stock Up 0.3%

IP opened at $39.48 on Monday. International Paper Company has a fifty-two week low of $35.56 and a fifty-two week high of $60.15. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The company’s 50-day moving average is $42.73 and its 200 day moving average is $46.54. The firm has a market capitalization of $20.85 billion, a P/E ratio of -394.80, a PEG ratio of 0.54 and a beta of 1.12.

International Paper (NYSE:IP – Get Free Report) last announced its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.96). The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.International Paper’s quarterly revenue was up 56.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. Research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. International Paper’s payout ratio is -70.88%.

International Paper Company Profile

(Free Report)

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.

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