International Paper Company $IP Stake Cut by Colrain Capital LLC

Colrain Capital LLC cut its position in shares of International Paper Company (NYSE:IP) by 85.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,880 shares of the basic materials company’s stock after selling 106,900 shares during the quarter. International Paper accounts for about 0.4% of Colrain Capital LLC’s investment portfolio, making the stock its 21st largest holding. Colrain Capital LLC’s holdings in International Paper were worth $744,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Caprock Group LLC bought a new position in International Paper during the third quarter worth $2,340,000. Icon Advisers Inc. Co. bought a new position in International Paper during the third quarter worth $4,853,000. Advisors Preferred LLC bought a new position in International Paper during the third quarter worth $1,181,000. Barclays PLC lifted its stake in International Paper by 12.4% during the third quarter. Barclays PLC now owns 2,348,177 shares of the basic materials company’s stock worth $108,955,000 after purchasing an additional 259,371 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in International Paper by 94.8% during the fourth quarter. SG Americas Securities LLC now owns 1,590,689 shares of the basic materials company’s stock worth $62,657,000 after purchasing an additional 774,301 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

International Paper Price Performance

Shares of IP opened at $35.11 on Friday. The firm has a market capitalization of $18.59 billion, a price-to-earnings ratio of -5.52 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. International Paper Company has a one year low of $29.26 and a one year high of $56.13. The stock’s fifty day moving average is $33.59 and its 200-day moving average is $38.30.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. International Paper’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the business posted $0.17 earnings per share. Equities analysts anticipate that International Paper Company will post 1.38 EPS for the current year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is -29.09%.

Insider Activity at International Paper

In other International Paper news, Director Scott Tozier purchased 10,000 shares of the stock in a transaction dated Friday, May 1st. The shares were bought at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the acquisition, the director owned 10,025 shares of the company’s stock, valued at approximately $313,782.50. This trade represents a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

IP has been the topic of several research analyst reports. Zacks Research cut International Paper from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Truist Financial cut their target price on International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Weiss Ratings cut International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Royal Bank Of Canada cut their target price on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, UBS Group cut their target price on International Paper from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and an average price target of $43.73.

International Paper Company Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.