International Paper Company (NYSE:IP) and NetApp Inc. (NASDAQ:NTAP) were named by Phil Roosevelt as some of his stock picks in an interview on Fox Business Network.
In the case of International Paper Company (NYSE:IP), Roosevelt who is with Barron’s said that they like the company because it generates a lot of cash that can now be returned to investors. He explained:
“We like IP. It’s a cash flow story that generates a lot of cash. They are in a good position to start returning it to shareholders in the form of a dividend or buybacks. They are a tremendous play in a recovering economy. They are the leaders in corrugated boxes and believe it or not, 95% of everything that is shipped goes out in a cardboard box.”
Furthermore, he said that one of the only things that is holding International Paper Company (NYSE:IP) back is its name in this digital age.
As for NetApp Inc. (NASDAQ:NTAP), he noted that the stock is one of their overlooked storage plays. He said:
“We like that as an overlooked storage play. It has kind of languished in the last few years but they have gotten their act together. Net market is just growing gangbusters.”
When asked why NetApp Inc. (NASDAQ:NTAP) has been overlooked, Roosevelt said that people may have overrated the risk that cloud storage posed.
Watch the discussion below.
International Paper Company (NYSE:IP) shareholders include and D E Shaw and Dan Loeb’s Third Point which reported, by the end of the first quarter of this year, about 3.2 million and 3 million shares respectively. These stakes in International Paper Company (NYSE:IP) were valued at about $146.81 million and about $137.64 million each.
NetApp Inc. (NASDAQ:NTAP) investors includes Arrowstreet Capital managed by Peter Rathjens, Bruce Clarke and John Campbell. The hedge fund reported about 2.32 million shares in the company as of the end of March. Another NetApp Inc. (NASDAQ:NTAP) investor is Israel Englander’s Millennium Management which held about 1.79 million shares in the company also by the end of the first quarter.