D.A. Davidson & CO. Reduces Holdings in International Paper Company (NYSE:IP)

D.A. Davidson & CO. decreased its position in International Paper Company (NYSE:IP - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,168 shares of the basic materials company's stock after selling 7,934 shares during the period. D.A. Davidson & CO.'s holdings in International Paper were worth $5,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in International Paper by 54.7% in the first quarter. Principal Financial Group Inc. now owns 632,233 shares of the basic materials company's stock valued at $33,730,000 after buying an additional 223,456 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in International Paper by 52.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,344 shares of the basic materials company's stock valued at $2,419,000 after buying an additional 15,520 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in International Paper in the first quarter valued at $3,888,000. First Horizon Advisors Inc. increased its holdings in International Paper by 65.4% in the first quarter. First Horizon Advisors Inc. now owns 5,248 shares of the basic materials company's stock valued at $280,000 after buying an additional 2,075 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in International Paper by 16.3% in the first quarter. Private Trust Co. NA now owns 5,124 shares of the basic materials company's stock valued at $273,000 after buying an additional 719 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Insider Buying and Selling at International Paper

In other news, CAO Holly G. Goughnour sold 7,500 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $44.85, for a total value of $336,375.00. Following the completion of the sale, the chief accounting officer owned 31,525 shares of the company's stock, valued at $1,413,896.25. This represents a 19.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by company insiders.

International Paper Price Performance

IP traded down $0.53 on Monday, reaching $49.90. 2,881,488 shares of the company's stock were exchanged, compared to its average volume of 3,149,205. The stock has a market cap of $26.34 billion, a PE ratio of 42.65, a P/E/G ratio of 0.46 and a beta of 1.02. International Paper Company has a twelve month low of $42.26 and a twelve month high of $60.36. The stock's fifty day moving average price is $47.38 and its 200-day moving average price is $51.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.33 and a quick ratio of 0.96.

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

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were paid a $0.4625 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.85 annualized dividend and a dividend yield of 3.71%. International Paper's dividend payout ratio (DPR) is 158.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $64.00 target price on shares of International Paper in a research note on Wednesday, March 26th. Wall Street Zen raised shares of International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research note on Thursday, March 20th. They set an "overweight" rating and a $59.00 target price for the company. Wells Fargo & Company reissued an "underweight" rating and set a $40.00 target price (down previously from $45.00) on shares of International Paper in a research note on Friday, May 9th. Finally, Truist Financial set a $59.00 target price on shares of International Paper in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $54.54.

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.