Credit Agricole S A Reduces Holdings in International Paper Company $IP

Key Points

• Credit Agricole S A significantly reduced its stake in International Paper Company by 52.4% in the first quarter, leaving it with 60,739 shares valued at approximately $3.24 million.
• Several other institutional investors altered their positions in International Paper, with First Trust Advisors LP increasing its holdings by 125.8% during the fourth quarter.
• International Paper Company recently reported a net loss with earnings of $0.20 EPS for the last quarter, falling short of analysts' expectations, while its revenue increased by 42.9% year-over-year.

Credit Agricole S A cut its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 52.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,739 shares of the basic materials company's stock after selling 66,790 shares during the period. Credit Agricole S A's holdings in International Paper were worth $3,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IP. First Trust Advisors LP lifted its position in International Paper by 125.8% during the fourth quarter. First Trust Advisors LP now owns 439,576 shares of the basic materials company's stock valued at $23,658,000 after purchasing an additional 244,875 shares during the period. MML Investors Services LLC raised its position in shares of International Paper by 6.6% in the fourth quarter. MML Investors Services LLC now owns 51,944 shares of the basic materials company's stock worth $2,796,000 after acquiring an additional 3,195 shares during the period. Dark Forest Capital Management LP raised its position in shares of International Paper by 88.6% in the fourth quarter. Dark Forest Capital Management LP now owns 11,310 shares of the basic materials company's stock worth $609,000 after acquiring an additional 5,312 shares during the period. MGO One Seven LLC acquired a new position in shares of International Paper in the fourth quarter worth about $413,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of International Paper by 1.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,201,558 shares of the basic materials company's stock worth $64,668,000 after acquiring an additional 17,852 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Price Performance

NYSE IP traded up $0.63 during trading hours on Thursday, hitting $49.00. 1,686,029 shares of the company's stock traded hands, compared to its average volume of 6,378,058. International Paper Company has a 52-week low of $43.27 and a 52-week high of $60.36. The company has a market capitalization of $25.87 billion, a PE ratio of -490.00, a PEG ratio of 0.63 and a beta of 1.04. 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's 50-day moving average is $49.37 and its 200-day moving average is $49.66.

International Paper (NYSE:IP - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm's revenue was up 42.9% on a year-over-year basis. Equities analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.8%. International Paper's dividend payout ratio is -1,850.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial set a $59.00 price objective on shares of International Paper in a research report on Wednesday, May 28th. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Bank of America upgraded shares of International Paper from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $55.00 to $57.00 in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $55.65.

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.