International Paper Company $IP Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in International Paper by 8.0% in the first quarter, selling 72,083 shares and leaving it with 834,186 shares valued at about $29.7 million.
• International Paper reported Q1 earnings below expectations, posting EPS of $0.15 versus the $0.18 consensus and revenue of $5.97 billion versus $6.02 billion expected, though revenue still rose 13.4% year over year.
• The company announced a quarterly dividend of $0.4625 per share, equal to an annualized yield of about 5.1%, and analysts currently rate the stock a Moderate Buy with an average target price of $44.31.

Hsbc Holdings PLC decreased its holdings in International Paper Company (NYSE:IP - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 834,186 shares of the basic materials company's stock after selling 72,083 shares during the quarter. Hsbc Holdings PLC owned about 0.16% of International Paper worth $29,709,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of International Paper in the first quarter valued at about $249,000. Intech Investment Management LLC grew its holdings in shares of International Paper by 100.5% during the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company's stock worth $1,709,000 after buying an additional 16,055 shares during the last quarter. Cresset Asset Management LLC increased its position in International Paper by 20.8% in the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company's stock valued at $812,000 after acquiring an additional 2,981 shares during the period. Jump Financial LLC increased its position in International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company's stock valued at $1,784,000 after acquiring an additional 28,092 shares during the period. Finally, Cerity Partners LLC raised its stake in International Paper by 8.0% during the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company's stock valued at $1,580,000 after acquiring an additional 2,493 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

International Paper Price Performance

Shares of IP opened at $36.36 on Wednesday. International Paper Company has a twelve month low of $29.26 and a twelve month high of $56.13. The stock's 50 day moving average is $35.19 and its two-hundred day moving average is $37.98. The firm has a market capitalization of $19.25 billion, a PE ratio of -5.72 and a beta of 0.94. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55.

International Paper (NYSE:IP - Get Free Report) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative return on equity of 0.49% and a negative net margin of 13.42%.The business's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. Research analysts anticipate that International Paper Company will post 1.39 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's dividend payout ratio is currently -29.09%.

Insiders Place Their Bets

In other International Paper news, Director Scott Tozier acquired 10,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the transaction, the director owned 10,025 shares of the company's stock, valued at $313,782.50. The trade was a 40,000.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IP shares. Royal Bank Of Canada increased their price objective on International Paper from $45.00 to $48.00 and gave the stock an "outperform" rating in a research report on Friday, July 17th. Wells Fargo & Company upped their price target on International Paper from $39.00 to $42.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Truist Financial increased their price target on International Paper from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. UBS Group lowered their price objective on shares of International Paper from $40.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Finally, Seaport Research Partners raised shares of International Paper from a "neutral" rating to a "buy" rating and set a $39.00 price objective on the stock in a research note on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.31.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.

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