28,735 Shares in International Paper Company (NYSE:IP) Acquired by Donoghue Forlines LLC

Key Points

• Donoghue Forlines LLC purchased 28,735 shares of International Paper Company, valued at approximately $1.53 million, during the 1st quarter.
• International Paper reported a 20 cents EPS for the last quarter, missing the analyst consensus estimate of 38 cents.
• The company announced a quarterly dividend of $0.4625 per share, translating to an annual yield of 3.9%.

Donoghue Forlines LLC purchased a new position in International Paper Company (NYSE:IP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,735 shares of the basic materials company's stock, valued at approximately $1,533,000.

A number of other large investors have also added to or reduced their stakes in IP. Zions Bancorporation National Association UT purchased a new position in International Paper during the first quarter valued at $34,000. Bernard Wealth Management Corp. purchased a new position in International Paper during the fourth quarter valued at $37,000. Citizens National Bank Trust Department purchased a new position in International Paper during the first quarter valued at $37,000. Transce3nd LLC purchased a new position in International Paper during the fourth quarter valued at $38,000. Finally, Grove Bank & Trust raised its stake in International Paper by 472.0% during the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after buying an additional 623 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on IP shares. UBS Group started coverage on International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective for the company. Truist Financial set a $59.00 price target on International Paper in a research note on Wednesday, May 28th. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Tuesday, August 5th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $43.00 price target (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $55.03.

International Paper Trading Down 0.9%

IP stock traded down $0.43 during midday trading on Monday, reaching $47.12. 3,116,203 shares of the company traded hands, compared to its average volume of 5,207,063. International Paper Company has a 52-week low of $43.27 and a 52-week 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 business has a 50 day moving average of $49.11 and a 200-day moving average of $50.37. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of -471.20, a P/E/G ratio of 0.57 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (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 company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company's revenue for the quarter was up 42.9% on a year-over-year basis. As a group, sell-side analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a yield of 3.9%. International Paper's dividend payout ratio is -1,850.00%.

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.