Contravisory Investment Management Inc. Sells 5,477 Shares of International Paper Company $IP

Key Points

• Contravisory Investment Management Inc. reduced its stake in International Paper Company by 35.6%, now holding 9,911 shares after selling 5,477 shares recently.
• International Paper reported earnings per share of $0.20 for the last quarter, missing the consensus estimate of $0.38, despite a revenue increase of 42.9% year-over-year.
• The company announced a quarterly dividend of $0.4625, resulting in a 3.9% dividend yield; however, it has an extremely high dividend payout ratio of -1,850.00%.

Contravisory Investment Management Inc. lessened its stake in International Paper Company (NYSE:IP - Free Report) by 35.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,911 shares of the basic materials company's stock after selling 5,477 shares during the period. Contravisory Investment Management Inc.'s holdings in International Paper were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Greenleaf Trust grew its stake in International Paper by 2.5% in the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock worth $493,000 after buying an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in 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 buying an additional 231 shares in the last quarter. Csenge Advisory Group lifted 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 during the last quarter. Capital Investment Advisors LLC lifted 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 during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of International Paper by 3.1% in the 1st quarter. IFP Advisors Inc now owns 9,224 shares of the basic materials company's stock worth $496,000 after acquiring an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

International Paper Trading Down 0.5%

NYSE:IP traded down $0.22 during midday trading on Monday, reaching $46.21. 3,944,926 shares of the stock traded hands, compared to its average volume of 3,791,487. The company has a fifty day moving average of $48.82 and a 200 day moving average of $48.63. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33. The stock has a market capitalization of $24.40 billion, a P/E ratio of -462.10, a PEG ratio of 0.52 and a beta of 1.05.

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

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th were issued a $0.4625 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.85 annualized dividend and a yield of 4.0%. International Paper's dividend payout ratio is -1,850.00%.

Insider Buying and Selling

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the completion of the transaction, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Bank of America upgraded shares of International Paper from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $55.00 to $57.00 in a report on Thursday, August 28th. UBS Group assumed coverage on shares of International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective for the company. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. Finally, Zacks Research lowered shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $55.65.

International Paper 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.