International Paper Company $IP Stock Position Increased by Kingdon Capital Management L.L.C.

Key Points

• Kingdon Capital Management L.L.C. increased its stake in International Paper Company by 34.5% in the first quarter, making International Paper its second biggest holding.
• International Paper recently reported $0.20 earnings per share, missing the consensus estimate of $0.38, with revenues of $6.77 billion for the quarter.
• The company announced a quarterly dividend of $0.4625 per share, representing a 3.7% dividend yield, with an ex-dividend date of August 15th.

Kingdon Capital Management L.L.C. boosted its holdings in shares of International Paper Company (NYSE:IP - Free Report) by 34.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 370,000 shares of the basic materials company's stock after acquiring an additional 95,000 shares during the quarter. International Paper accounts for 2.1% of Kingdon Capital Management L.L.C.'s portfolio, making the stock its 2nd biggest holding. Kingdon Capital Management L.L.C. owned about 0.07% of International Paper worth $19,740,000 as of its most recent SEC filing.

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

International Paper Stock Down 2.2%

NYSE:IP traded down $1.10 during mid-day trading on Wednesday, hitting $48.07. 3,282,769 shares of the company's stock traded hands, compared to its average volume of 6,334,606. The company has a fifty day moving average of $49.63 and a 200 day moving average of $49.46. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a market capitalization of $25.38 billion, a P/E ratio of -480.70, a P/E/G ratio of 0.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 1.33.

International Paper (NYSE:IP - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company's quarterly revenue was up 42.9% on a year-over-year basis. On average, analysts forecast that International Paper Company will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper's payout ratio is presently -1,850.00%.

Analysts Set New Price Targets

Several research analysts have recently commented on IP shares. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. Zacks Research lowered International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Truist Financial set a $59.00 price target on International Paper in a research report on Wednesday, May 28th. UBS Group started coverage on International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. Finally, Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.