Blair William & Co. IL Lowers Holdings in International Paper Company $IP

Blair William & Co. IL decreased its position in International Paper Company (NYSE:IP) by 1.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,018 shares of the basic materials company’s stock after selling 1,000 shares during the period. Blair William & Co. IL’s holdings in International Paper were worth $3,326,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of IP. Vanguard Group Inc. raised its stake in International Paper by 52.0% in the first quarter. Vanguard Group Inc. now owns 62,623,540 shares of the basic materials company’s stock worth $3,340,966,000 after buying an additional 21,428,455 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in International Paper by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 51,798,017 shares of the basic materials company’s stock worth $2,763,426,000 after buying an additional 4,201,422 shares in the last quarter. Bank of New York Mellon Corp raised its stake in International Paper by 19.4% in the first quarter. Bank of New York Mellon Corp now owns 17,145,485 shares of the basic materials company’s stock worth $914,712,000 after buying an additional 2,782,042 shares in the last quarter. JPMorgan Chase & Co. raised its stake in International Paper by 21.4% in the first quarter. JPMorgan Chase & Co. now owns 9,019,743 shares of the basic materials company’s stock worth $481,203,000 after buying an additional 1,590,137 shares in the last quarter. Finally, Invesco Ltd. raised its stake in International Paper by 1.1% in the first quarter. Invesco Ltd. now owns 8,040,128 shares of the basic materials company’s stock worth $428,941,000 after buying an additional 85,732 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $45.65 on Tuesday. The business’s fifty day simple moving average is $47.17 and its 200-day simple moving average is $47.98. The company has a market cap of $24.10 billion, a PE ratio of -456.50, a PEG ratio of 0.52 and a beta of 1.10. 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 Company has a 12-month low of $43.27 and a 12-month high of $60.36.

International Paper (NYSE:IP) last released 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 firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same period in the previous year, the company earned $0.55 earnings per share. International Paper’s revenue was up 42.9% on a year-over-year basis. Analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Friday, November 14th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.1%. International Paper’s payout ratio is -1,850.00%.

Insider Activity

In related news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total value of $409,770.00. Following the transaction, the senior vice president directly owned 27,673 shares of the company’s stock, valued at $1,259,951.69. This represents a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IP has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price objective on shares of International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Wells Fargo & Company boosted their price objective on shares of International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. Truist Financial reduced their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday. Bank of America raised International Paper from a “neutral” rating to a “buy” rating and upped their price target for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. downgraded International Paper from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.46.

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.