International Paper Company $IP Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in International Paper Company (NYSE:IP) by 8.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 834,186 shares of the basic materials company’s stock after selling 72,083 shares during the period. Hsbc Holdings PLC’s holdings in International Paper were worth $29,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. McIlrath & Eck LLC boosted its stake in shares of International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares in the last quarter. MV Capital Management Inc. purchased a new position in International Paper in the 4th quarter valued at approximately $25,000. Sound Income Strategies LLC increased its stake in International Paper by 94.0% in the 4th quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 344 shares in the last quarter. DV Equities LLC acquired a new position in International Paper during the fourth quarter worth $29,000. Finally, Ascentis Independent Advisors acquired a new position in International Paper during the first quarter worth $28,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Price Performance

IP stock opened at $36.36 on Wednesday. International Paper Company has a 1 year low of $29.26 and a 1 year high of $56.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The stock’s 50 day moving average price is $35.19 and its 200 day moving average price is $37.98. The firm has a market cap of $19.25 billion, a P/E ratio of -5.72 and a beta of 0.94.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period in the previous year, the business posted $0.17 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that International Paper Company will post 1.39 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.1%. International Paper’s dividend payout ratio (DPR) is presently -29.09%.

Analysts Set New Price Targets

Several analysts have weighed in on IP shares. Bank of America lowered International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Tuesday, July 14th. UBS Group cut their price target on International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of International Paper in a research note on Wednesday, April 1st. They issued a “hold” rating and a $38.00 price objective on the stock. Finally, Royal Bank Of Canada raised their target price on shares of International Paper from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.31.

Insider Buying and Selling

In related news, Director Scott Tozier acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the transaction, the director owned 10,025 shares in the company, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.