International Paper Company (NYSE:IP) Stock Holdings Lifted by Amalgamated Bank

Amalgamated Bank boosted its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 51.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,649 shares of the basic materials company's stock after acquiring an additional 35,144 shares during the period. Amalgamated Bank's holdings in International Paper were worth $5,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Picton Mahoney Asset Management grew its position in shares of International Paper by 67.0% in the fourth quarter. Picton Mahoney Asset Management now owns 536 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 215 shares during the period. Bernard Wealth Management Corp. purchased a new stake in International Paper in the 4th quarter valued at about $37,000. Transce3nd LLC acquired a new position in shares of International Paper during the 4th quarter valued at about $38,000. Citizens National Bank Trust Department acquired a new position in shares of International Paper during the 1st quarter valued at about $37,000. Finally, Grove Bank & Trust lifted its holdings in shares of International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after acquiring an additional 623 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Performance

Shares of NYSE:IP traded up $0.04 on Thursday, reaching $50.43. 2,049,934 shares of the company's stock were exchanged, compared to its average volume of 6,959,833. International Paper Company has a fifty-two week low of $42.26 and a fifty-two week high of $60.36. The business's 50-day moving average is $47.21 and its two-hundred day moving average is $51.21. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 43.10, a PEG ratio of 0.45 and a beta of 1.02.

International Paper (NYSE:IP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.38 billion. During the same period in the prior year, the business earned $0.17 earnings per share. International Paper's quarterly revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, May 23rd. International Paper's dividend payout ratio (DPR) is 158.12%.

Insider Buying and Selling at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $44.85, for a total transaction of $336,375.00. Following the sale, the chief accounting officer owned 31,525 shares of the company's stock, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IP. Royal Bank Of Canada restated an "outperform" rating and issued a $64.00 target price on shares of International Paper in a report on Wednesday, March 26th. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. JPMorgan Chase & Co. initiated coverage on shares of International Paper in a research report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target on the stock. Citigroup initiated coverage on shares of International Paper in a research note on Wednesday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. Finally, UBS Group initiated coverage on shares of International Paper in a research note on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $54.54.

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.