International Paper Company (NYSE:IP) Holdings Raised by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in International Paper Company (NYSE:IP - Free Report) by 1,369.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,783 shares of the basic materials company's stock after buying an additional 15,641 shares during the period. Federated Hermes Inc.'s holdings in International Paper were worth $895,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Cozad Asset Management Inc. boosted its stake in International Paper by 7.7% during the first quarter. Cozad Asset Management Inc. now owns 38,951 shares of the basic materials company's stock valued at $2,078,000 after buying an additional 2,794 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in International Paper by 23.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,214 shares of the basic materials company's stock valued at $385,000 after acquiring an additional 1,363 shares during the last quarter. LPL Financial LLC boosted its position in shares of International Paper by 5.0% during the 1st quarter. LPL Financial LLC now owns 736,366 shares of the basic materials company's stock valued at $39,285,000 after purchasing an additional 34,983 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of International Paper by 20.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 200,944 shares of the basic materials company's stock worth $10,720,000 after purchasing an additional 34,183 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in shares of International Paper by 4.4% in the 1st quarter. Empirical Finance LLC now owns 12,627 shares of the basic materials company's stock worth $674,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IP shares. Wells Fargo & Company reissued an "underweight" rating and issued a $43.00 price target (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Truist Financial set a $59.00 price target on shares of International Paper in a report on Wednesday, May 28th. UBS Group started coverage on shares of International Paper in a research report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut shares of International Paper from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $55.00 to $54.00 in a research report on Tuesday. Finally, Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $55.03.

International Paper Trading Up 3.9%

Shares of IP stock opened at $48.15 on Friday. The firm has a market capitalization of $25.42 billion, a P/E ratio of -481.50, a price-to-earnings-growth ratio of 0.54 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 firm's fifty day simple moving average is $49.11 and its 200 day simple moving average is $50.55. The company has a current ratio of 1.33, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52.

International Paper (NYSE:IP - Get Free Report) last posted 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 negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period last year, the company earned $0.55 EPS. The company's revenue was up 42.9% on a year-over-year basis. As a group, sell-side analysts predict 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 issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, August 15th. International Paper's payout ratio is presently -1,850.00%.

International Paper Company Profile

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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