15 Best Lumber Stocks To Buy Now

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02. International Paper Company (NYSE:IP)

Number of Hedge Fund Holders: 37

International Paper Company (NYSE:IP) produces and sells renewable fiber-based packaging and pulp products across North America, Latin America, Europe, and North Africa. It operates through two segments: Industrial Packaging and Global Cellulose Fibers. In the latest earnings report announced on July 24, International Paper Company (NYSE:IP) reported a normalized EPS of $0.55, exceeding expectations by $0.13, while the GAAP EPS was $1.41, surpassing forecasts by $1.00. Revenue reached $4.73 billion but missed projections by $31.67 million. The company’s forward dividend yield is 3.94%, with an annual payout of $1.85. The last announced dividend is $0.46, with an ex-dividend date of August 15, 2024, and a payout date of September 16, 2024. The forward P/E ratio is 29.18, indicating a higher valuation relative to earnings.

In the first quarter of 2024, the number of hedge funds with positions in International Paper Company (NYSE:IP) rose to 37 from 31, according to Insider Monkey’s database, which tracks 920 hedge funds. The combined value of these holdings is approximately $756.33 million. During this period, Edgar Wachenheim’s Greenhaven Associates became the largest shareholder among these hedge funds.

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