Symphony Financial Ltd. Co. Lowers Stock Holdings in International Paper Company (NYSE:IP)

Symphony Financial Ltd. Co. reduced its position in shares of International Paper Company (NYSE:IP - Free Report) by 74.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,795 shares of the basic materials company's stock after selling 23,124 shares during the period. Symphony Financial Ltd. Co.'s holdings in International Paper were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors boosted its holdings in International Paper by 68.8% in the fourth quarter. Capital Research Global Investors now owns 29,904,546 shares of the basic materials company's stock valued at $1,609,462,000 after purchasing an additional 12,191,361 shares during the period. FMR LLC boosted its holdings in International Paper by 48.9% in the fourth quarter. FMR LLC now owns 26,559,812 shares of the basic materials company's stock valued at $1,429,449,000 after purchasing an additional 8,720,575 shares during the period. Alyeska Investment Group L.P. boosted its holdings in International Paper by 134.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,948,752 shares of the basic materials company's stock valued at $212,522,000 after purchasing an additional 2,266,762 shares during the period. Norges Bank purchased a new position in International Paper in the fourth quarter valued at $109,201,000. Finally, Slate Path Capital LP purchased a new position in International Paper in the fourth quarter valued at $102,796,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on IP. UBS Group began coverage on International Paper in a report on Wednesday, June 4th. They issued a "buy" rating and a $60.00 target price for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $64.00 price target on shares of International Paper in a report on Wednesday, March 26th. Wall Street Zen downgraded International Paper from a "hold" rating to a "sell" rating in a report on Monday, May 5th. JPMorgan Chase & Co. started coverage on International Paper in a report on Thursday, March 20th. They set an "overweight" rating and a $59.00 price target for the company. Finally, Truist Financial set a $59.00 price target on International Paper in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, International Paper currently has a consensus rating of "Hold" and an average target price of $54.54.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $44.85, for a total value of $336,375.00. Following the transaction, the chief accounting officer now owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.35% of the company's stock.

International Paper Stock Up 0.7%

IP opened at $46.13 on Tuesday. The business's 50-day simple moving average is $47.02 and its 200-day simple moving average is $51.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.96 and a current ratio of 1.33. International Paper Company has a one year low of $41.50 and a one year high of $60.36. The stock has a market capitalization of $24.35 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 0.42 and a beta of 1.04.

International Paper (NYSE:IP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.12). International Paper had a return on equity of 4.05% and a net margin of 1.99%. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter last year, the firm posted $0.17 EPS. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. Analysts anticipate that International Paper Company will post 2.77 EPS for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, May 23rd. International Paper's dividend payout ratio (DPR) is currently 158.12%.

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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