International Paper Company $IP Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its holdings in International Paper Company by 9.5%, owning 433,353 shares valued at approximately $23.1 million as of its latest SEC filing.
• International Paper reported earnings per share of $0.20 for the last quarter, missing the consensus estimate of $0.38, while its revenue increased by 42.9% year-over-year.
• The company announced a quarterly dividend of $0.4625 per share, with a dividend yield of 3.7%, slated for payment on September 16th.

Raymond James Financial Inc. boosted its holdings in International Paper Company (NYSE:IP - Free Report) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 433,353 shares of the basic materials company's stock after acquiring an additional 37,458 shares during the period. Raymond James Financial Inc. owned 0.08% of International Paper worth $23,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in International Paper in the 1st quarter valued at about $34,000. Bernard Wealth Management Corp. acquired a new stake in International Paper in the 4th quarter valued at about $37,000. Citizens National Bank Trust Department acquired a new stake in International Paper in the 1st quarter valued at about $37,000. Grove Bank & Trust grew its stake in International Paper by 472.0% in the 1st quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 623 shares during the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in International Paper in the 1st quarter valued at about $42,000. 81.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

International Paper Trading Up 1.2%

Shares of IP stock opened at $49.46 on Tuesday. The firm has a market cap of $26.11 billion, a P/E ratio of -494.60 and a beta of 1.04. International Paper Company has a 1-year low of $43.27 and a 1-year 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 firm's 50-day simple moving average is $49.27 and its 200-day simple moving average is $49.68.

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 for the quarter, missing the consensus estimate of $0.38 by ($0.18). The company 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 was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, equities analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio is presently -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.

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