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

Other institutional investors and hedge funds have also modified their holdings of the company. Stratos Wealth Partners LTD. lifted its holdings in shares of International Paper by 2.0% in the first quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company's stock valued at $751,000 after purchasing an additional 282 shares in the last quarter. Spire Wealth Management grew its holdings in shares of International Paper by 2,343.9% during the 1st quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company's stock worth $86,000 after acquiring an additional 1,547 shares during the period. MBB Public Markets I LLC bought a new position in International Paper in the 1st quarter valued at approximately $313,000. Goldman Sachs Group Inc. lifted its holdings in shares of International Paper by 78.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,860,535 shares of the basic materials company's stock valued at $259,310,000 after buying an additional 2,143,027 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of International Paper by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after purchasing an additional 231 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IP has been the subject of a number of research analyst reports. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Zacks Research cut shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Truist Financial set a $59.00 price objective on International Paper in a report on Wednesday, May 28th. Wells Fargo & Company reissued an "underweight" rating and set a $43.00 target price (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Finally, Bank of America raised International Paper from a "neutral" rating to a "buy" rating and upped their price target for the company from $55.00 to $57.00 in a research report on Thursday, August 28th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, International Paper currently has a consensus rating of "Hold" and a consensus price target of $55.65.

International Paper Stock Up 0.0%

Shares of NYSE:IP traded up $0.02 during trading on Monday, hitting $46.45. 891,575 shares of the company were exchanged, compared to its average volume of 6,167,449. The firm's 50 day moving average price is $48.94 and its 200-day moving average price is $48.67. 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 current ratio of 1.33 and a quick ratio of 0.96. The stock has a market capitalization of $24.52 billion, a P/E ratio of -464.50, a PEG ratio of 0.52 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last issued 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 business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company'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 earned $0.55 EPS. On average, research analysts predict that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 15th were given a $0.4625 dividend. The ex-dividend date was 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%.

Insider Transactions at International Paper

In other International Paper news, SVP Joseph R. Saab sold 9,000 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president owned 27,673 shares of the company's stock, valued at approximately $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.35% of the company's stock.

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.