Hsbc Holdings PLC Has $38.80 Million Stock Holdings in International Paper Company $IP

Key Points

• Hsbc Holdings PLC increased its stake in International Paper Company by 32.0%, now owning approximately $38.80 million worth of the company's shares.
• International Paper reported earnings per share of $0.20, falling short of the consensus estimate of $0.38, while revenue for the quarter was $6.77 billion, exceeding expectations.
• The company has declared a quarterly dividend of $0.4625, reflecting an annualized yield of 3.8%, but has a significant negative dividend payout ratio of -1,850.00%.

Hsbc Holdings PLC grew its stake in shares of International Paper Company (NYSE:IP - Free Report) by 32.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 727,325 shares of the basic materials company's stock after buying an additional 176,242 shares during the quarter. Hsbc Holdings PLC owned about 0.14% of International Paper worth $38,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in shares of International Paper during the 1st quarter worth about $34,000. Bernard Wealth Management Corp. bought a new stake in shares of International Paper during the 4th quarter worth about $37,000. Citizens National Bank Trust Department bought a new stake in shares of International Paper during the 1st quarter worth about $37,000. Grove Bank & Trust raised its position in shares of International Paper by 472.0% during the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock worth $40,000 after buying an additional 623 shares in the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in shares of International Paper during the 1st quarter worth about $42,000. 81.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IP has been the topic of a number of recent analyst reports. Truist Financial set a $59.00 price target on shares of International Paper in a research report on Wednesday, May 28th. Zacks Research downgraded shares of International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. JPMorgan Chase & Co. downgraded shares of International Paper from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $55.00 to $54.00 in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, 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 target price on the stock. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, International Paper presently has a consensus rating of "Hold" and a consensus target price of $55.46.

International Paper Trading Down 0.5%

Shares of IP stock traded down $0.26 during trading hours on Wednesday, reaching $48.52. 1,175,729 shares of the stock traded hands, compared to its average volume of 6,401,782. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36. The business has a fifty day moving average price of $49.32 and a 200 day moving average price of $49.67. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $25.62 billion, a PE ratio of -485.20, a PEG ratio of 0.64 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The firm's revenue was up 42.9% compared to the same quarter last year. On average, equities research analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

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 paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio is currently -1,850.00%.

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.