International Paper Company $IP Shares Sold by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management Co. sold 92.4% of its shares in International Paper, reducing its holdings to 5,287 shares worth $282,000.
• International Paper reported $0.20 EPS for the last quarter, missing the expected $0.38, despite a 42.9% year-over-year revenue increase to $6.77 billion.
• The company declared a quarterly dividend of $0.4625 per share, reflecting a 3.8% dividend yield, but has a significantly negative dividend payout ratio of -1,850.00%.

Flputnam Investment Management Co. trimmed its position in shares of International Paper Company (NYSE:IP - Free Report) by 92.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,287 shares of the basic materials company's stock after selling 64,496 shares during the period. Flputnam Investment Management Co.'s holdings in International Paper were worth $282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Greenleaf Trust increased its holdings in International Paper by 2.5% in the 1st quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock valued at $493,000 after purchasing an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in International Paper by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after purchasing an additional 231 shares in the last quarter. Csenge Advisory Group increased its holdings in International Paper by 1.5% in the 1st quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock valued at $867,000 after purchasing an additional 234 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in International Paper by 6.0% in the 1st quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 235 shares in the last quarter. Finally, Wimmer Associates 1 LLC increased its holdings in International Paper by 3.8% in the 4th quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock valued at $401,000 after purchasing an additional 270 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE:IP opened at $48.07 on Thursday. 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 has a 50-day moving average of $49.66 and a two-hundred day moving average of $49.45. The stock has a market cap of $25.38 billion, a P/E ratio of -480.70, a PEG ratio of 0.56 and a beta of 1.05. International Paper Company has a 1-year low of $43.27 and a 1-year high of $60.36.

International Paper (NYSE:IP - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.18). International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same period in the previous year, the business posted $0.55 EPS. The business's revenue for the quarter was up 42.9% on a year-over-year basis. On average, research analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be given a dividend of $0.4625 per share. 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 (DPR) is presently -1,850.00%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IP. Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Zacks Research downgraded International Paper from a "hold" rating to a "strong sell" rating in a report on Monday, August 18th. Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $55.00 to $54.00 in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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