International Paper Company (NYSE:IP) Shares Bought by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC increased its holdings in International Paper Company by 28.2%, acquiring an additional 9,291 shares, bringing their total shares to 42,217.
• International Paper's recent earnings report indicated an EPS of $0.20, which was below analysts' expectations of $0.38, despite a 42.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.4625 per share, with a yield of 3.9%, payable on September 16th to shareholders of record by August 15th.

Mizuho Securities USA LLC raised its stake in shares of International Paper Company (NYSE:IP - Free Report) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,217 shares of the basic materials company's stock after acquiring an additional 9,291 shares during the quarter. Mizuho Securities USA LLC's holdings in International Paper were worth $2,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IP. Cerity Partners LLC boosted its position in shares of International Paper by 8.2% in the 4th quarter. Cerity Partners LLC now owns 41,175 shares of the basic materials company's stock worth $2,139,000 after purchasing an additional 3,125 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of International Paper in the 4th quarter worth $21,307,000. Treasurer of the State of North Carolina boosted its position in shares of International Paper by 12.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 174,986 shares of the basic materials company's stock worth $9,418,000 after purchasing an additional 19,270 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of International Paper by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 20,533 shares of the basic materials company's stock worth $1,105,000 after purchasing an additional 7,325 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in shares of International Paper by 69.2% in the 4th quarter. Townsquare Capital LLC now owns 11,646 shares of the basic materials company's stock worth $627,000 after purchasing an additional 4,765 shares in the last quarter. Institutional investors own 81.95% of the company's stock.

International Paper Trading Down 2.3%

NYSE IP traded down $1.12 on Friday, reaching $46.64. The stock had a trading volume of 3,522,576 shares, compared to its average volume of 5,337,198. International Paper Company has a 12-month low of $43.27 and a 12-month high of $60.36. The stock has a fifty day moving average price of $49.16 and a two-hundred day moving average price of $50.09. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of -466.40, a P/E/G ratio of 0.60 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $6.64 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm's revenue was up 42.9% compared to the same quarter last year. As a group, sell-side analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

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 paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio is currently -1,850.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial set a $59.00 price objective on International Paper in a research report on Wednesday, May 28th. Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and cut their price target for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. UBS Group initiated coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company reiterated an "underweight" rating and issued a $43.00 price objective (up from $40.00) on shares of International Paper in a report on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $55.46.

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.