International Paper Company (NYSE:IP) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lowered its position in International Paper Company (NYSE:IP) by 33.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,566 shares of the basic materials company’s stock after selling 1,801 shares during the period. Harbour Investments Inc.’s holdings in International Paper were worth $190,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Natixis Advisors LLC increased its stake in shares of International Paper by 25.3% in the 1st quarter. Natixis Advisors LLC now owns 371,586 shares of the basic materials company’s stock valued at $19,824,000 after purchasing an additional 75,046 shares in the last quarter. Arkadios Wealth Advisors boosted its position in International Paper by 1.2% during the first quarter. Arkadios Wealth Advisors now owns 28,715 shares of the basic materials company’s stock worth $1,532,000 after purchasing an additional 349 shares in the last quarter. Eastern Bank grew its holdings in International Paper by 76.5% in the first quarter. Eastern Bank now owns 1,456 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 631 shares during the period. Vestcor Inc increased its position in shares of International Paper by 36.1% in the first quarter. Vestcor Inc now owns 8,896 shares of the basic materials company’s stock valued at $475,000 after buying an additional 2,359 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of International Paper during the 1st quarter worth approximately $295,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of IP stock opened at $46.38 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.33 and a quick ratio of 0.96. The company has a market capitalization of $24.48 billion, a PE ratio of -463.80, a price-to-earnings-growth ratio of 0.53 and a beta of 1.04. The firm’s 50-day moving average is $49.11 and its two-hundred day moving average is $50.61. 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 quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 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 for the quarter, compared to analysts’ expectations of $6.64 billion. During the same period in the previous year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. Analysts predict that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4625 per share. The ex-dividend date is Friday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. International Paper’s dividend payout ratio is currently -1,850.00%.

Analysts Set New Price Targets

IP has been the topic of several recent analyst reports. Truist Financial set a $59.00 price objective on shares of International Paper in a report on Wednesday, May 28th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $43.00 price target (up from $40.00) on shares of International Paper in a research note on Thursday, July 10th. UBS Group started coverage on shares of International Paper in a report on Wednesday, June 4th. They set a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. downgraded shares of International Paper from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.03.

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.