160,251 Shares in International Paper Company (NYSE:IP) Bought by Rathbones Group PLC

Key Points

• Rathbones Group PLC has acquired 160,251 shares of International Paper Company, valued at approximately $8,535,000, during the first quarter.
• Institutional investors own 81.95% of International Paper's stock, with notable stake increases from Vanguard Group Inc. (52%), Capital Research Global Investors (68.8%), and Bessemer Group Inc. (3,304.9%).
• International Paper has declared a quarterly dividend of $0.4625, with an annualized dividend of $1.85 representing a yield of 3.8%.

Rathbones Group PLC acquired a new position in shares of International Paper Company (NYSE:IP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 160,251 shares of the basic materials company's stock, valued at approximately $8,535,000.

Several other large investors have also modified their holdings of the stock. Greenleaf Trust boosted its holdings in International Paper by 2.5% during the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock valued at $493,000 after purchasing an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of International Paper by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock worth $480,000 after acquiring an additional 231 shares in the last quarter. Csenge Advisory Group boosted its holdings in shares of International Paper by 1.5% in the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock worth $867,000 after acquiring an additional 234 shares in the last quarter. Capital Investment Advisors LLC boosted its holdings in shares of International Paper by 6.0% in the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock worth $223,000 after acquiring an additional 235 shares in the last quarter. Finally, Wimmer Associates 1 LLC boosted its holdings in shares of International Paper by 3.8% in the 4th quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock worth $401,000 after acquiring an additional 270 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Trading Down 2.3%

Shares of IP stock traded down $1.12 during trading hours on Friday, reaching $46.64. The company had a trading volume of 3,522,576 shares, compared to its average volume of 5,337,198. The company has a 50 day moving average of $49.16 and a 200 day moving average of $50.03. 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 firm has a market cap of $24.63 billion, a price-to-earnings ratio of -466.40, a P/E/G ratio of 0.58 and a beta of 1.04. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period last year, the company earned $0.55 EPS. On average, equities research analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Friday, August 15th will be given a $0.4625 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. International Paper's dividend payout ratio is currently -1,850.00%.

Wall Street Analysts Forecast Growth

IP has been the topic of several recent analyst reports. UBS Group initiated coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 target price (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Truist Financial set a $59.00 price objective on shares of International Paper in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $55.46.

International Paper Company 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.