Voya Investment Management LLC Has $8.46 Million Stock Holdings in International Paper Company $IP

Voya Investment Management LLC grew its stake in shares of International Paper Company (NYSE:IP) by 8.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,499 shares of the basic materials company’s stock after purchasing an additional 12,129 shares during the quarter. Voya Investment Management LLC’s holdings in International Paper were worth $8,456,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Rise Advisors LLC increased its holdings in International Paper by 281.3% during the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after buying an additional 346 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of International Paper in the 1st quarter valued at about $34,000. Bernard Wealth Management Corp. acquired a new position in shares of International Paper during the 4th quarter worth about $37,000. Citizens National Bank Trust Department bought a new stake in shares of International Paper in the 1st quarter valued at about $37,000. Finally, Grove Bank & Trust grew its holdings in International Paper by 472.0% during the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 623 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on IP shares. Bank of America upgraded International Paper from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $57.00 in a research note on Thursday, August 28th. Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $43.00 price objective (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered shares of International Paper from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Finally, Zacks Research lowered shares of International Paper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.65.

International Paper Trading Up 1.5%

Shares of International Paper stock opened at $46.94 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The firm has a 50-day moving average of $49.17 and a 200-day moving average of $48.81. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36. The stock has a market cap of $24.78 billion, a PE ratio of -469.40, a PEG ratio of 0.52 and a beta of 1.05.

International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.18). The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.International Paper’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, August 15th. International Paper’s payout ratio is -1,850.00%.

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.