Trinity Legacy Partners LLC Cuts Position in International Paper Company $IP

Key Points

• Trinity Legacy Partners LLC cut its position in International Paper Company (IP) by 20.9% during the first quarter, resulting in ownership of 52,147 shares valued at approximately $2.78 million.
• International Paper recently reported a quarterly EPS of $0.20, missing analyst expectations of $0.38, while its revenue for the quarter was up 42.9% year-over-year.
• The company announced a quarterly dividend of $0.4625, translating to an annualized yield of 3.8%, with a significant negative dividend payout ratio of -1,850.00%.

Trinity Legacy Partners LLC decreased its holdings in International Paper Company (NYSE:IP - Free Report) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,147 shares of the basic materials company's stock after selling 13,767 shares during the quarter. Trinity Legacy Partners LLC's holdings in International Paper were worth $2,782,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Greenleaf Trust raised its position in International Paper by 2.5% in the first quarter. Greenleaf Trust now owns 9,244 shares of the basic materials company's stock worth $493,000 after acquiring an additional 224 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in International Paper by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 8,994 shares of the basic materials company's stock valued at $480,000 after purchasing an additional 231 shares during the last quarter. Csenge Advisory Group grew its holdings in International Paper by 1.5% in the first quarter. Csenge Advisory Group now owns 16,252 shares of the basic materials company's stock valued at $867,000 after purchasing an additional 234 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in International Paper by 6.0% in the first quarter. Capital Investment Advisors LLC now owns 4,176 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 235 shares during the last quarter. Finally, Wimmer Associates 1 LLC grew its holdings in International Paper by 3.8% in the fourth quarter. Wimmer Associates 1 LLC now owns 7,450 shares of the basic materials company's stock valued at $401,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IP. Wells Fargo & Company reaffirmed an "underweight" rating and set a $43.00 price objective (up previously from $40.00) on shares of International Paper in a research note on Thursday, July 10th. Wall Street Zen raised International Paper from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. UBS Group began coverage on International Paper in a research note on Wednesday, June 4th. They set a "buy" rating and a $60.00 price objective on the stock. Truist Financial set a $59.00 price objective on International Paper in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. lowered International Paper from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $55.00 to $54.00 in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, International Paper has a consensus rating of "Hold" and an average target price of $55.46.

International Paper Stock Performance

International Paper stock opened at $48.94 on Friday. The stock's 50-day moving average is $49.21 and its 200-day moving average is $49.80. The company has a market cap of $25.84 billion, a price-to-earnings ratio of -489.40, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. International Paper Company has a 12 month low of $43.27 and a 12 month high of $60.36.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.64 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The business's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. Equities analysts anticipate that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, August 15th. International Paper's dividend payout ratio (DPR) is -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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