Concurrent Investment Advisors LLC Buys New Stake in International Paper Company $IP

Key Points

• Concurrent Investment Advisors LLC has purchased a new stake in International Paper Company, acquiring 16,390 shares valued at approximately $768,000.
• International Paper reported a quarterly earnings miss with an EPS of $0.20, falling short of the $0.38 consensus estimate, despite a revenue increase of 42.9% year-over-year.
• The company declared a quarterly dividend of $0.4625, which is set to be paid on December 16th, resulting in an annualized dividend yield of 4.0%.

Concurrent Investment Advisors LLC purchased a new stake in International Paper Company (NYSE:IP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,390 shares of the basic materials company's stock, valued at approximately $768,000.

A number of other institutional investors have also modified their holdings of IP. GAMMA Investing LLC boosted its stake in shares of International Paper by 6.4% in the first quarter. GAMMA Investing LLC now owns 5,425 shares of the basic materials company's stock worth $289,000 after buying an additional 327 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in International Paper by 22.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,691 shares of the basic materials company's stock worth $90,000 after purchasing an additional 312 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of International Paper during the 1st quarter worth approximately $223,000. Grove Bank & Trust increased 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 valued at $40,000 after purchasing an additional 623 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of International Paper by 55.9% in the 1st quarter. State of Alaska Department of Revenue now owns 61,778 shares of the basic materials company's stock valued at $3,295,000 after purchasing an additional 22,140 shares during the period. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Stock Performance

NYSE IP opened at $46.66 on Friday. 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 stock's 50 day simple moving average is $47.16 and its 200-day simple moving average is $47.92. The company has a market cap of $24.64 billion, a PE ratio of -466.60, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10. 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 data on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). The firm 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 firm's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, equities research analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend 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 subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of International Paper from $43.00 to $44.00 and gave the company an "underweight" rating in a report on Tuesday, October 7th. Truist Financial cut their price target on International Paper from $55.00 to $53.00 and set a "buy" rating for the company in a research note on Monday. UBS Group lowered their price target on International Paper from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group decreased their target price on International Paper from $61.00 to $59.00 and set a "buy" rating on the stock in a research report on Friday, September 26th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $53.46.

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares of the company's stock, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company's stock.

About International Paper

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.

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