Aberdeen Group plc Raises Holdings in International Paper Company $IP

Aberdeen Group plc raised its stake in International Paper Company (NYSE:IP) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,295 shares of the basic materials company’s stock after buying an additional 793 shares during the quarter. Aberdeen Group plc’s holdings in International Paper were worth $7,741,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in IP. Stratos Wealth Partners LTD. grew its holdings in shares of International Paper by 2.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 14,074 shares of the basic materials company’s stock worth $751,000 after purchasing an additional 282 shares during the period. Spire Wealth Management raised its position in shares of International Paper by 2,343.9% during the 1st quarter. Spire Wealth Management now owns 1,613 shares of the basic materials company’s stock worth $86,000 after acquiring an additional 1,547 shares in the last quarter. Consolidated Planning Corp acquired a new stake in shares of International Paper during the 2nd quarter worth about $317,000. MBB Public Markets I LLC acquired a new stake in shares of International Paper during the 1st quarter worth about $313,000. Finally, Alliancebernstein L.P. raised its position in shares of International Paper by 47.0% during the 1st quarter. Alliancebernstein L.P. now owns 553,438 shares of the basic materials company’s stock worth $29,526,000 after acquiring an additional 176,991 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the sale, the senior vice president directly owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $46.66 on Friday. 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 1-year low of $43.27 and a 1-year high of $60.36. The business has a 50-day moving average of $47.16 and a 200-day moving average of $47.92. The company has a market capitalization of $24.64 billion, a price-to-earnings ratio of -466.60, a PEG ratio of 0.57 and a beta of 1.10.

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 positive return on equity of 2.63% and a negative net margin of 0.12%.The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.64 billion. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was up 42.9% compared to the same quarter last year. On average, equities analysts anticipate that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Friday, November 14th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. International Paper’s payout ratio is -1,850.00%.

Analysts Set New Price Targets

IP has been the topic of a number of research reports. Truist Financial dropped their price target on International Paper from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company lifted their price objective on International Paper from $43.00 to $44.00 and gave the stock an “underweight” rating in a report on Tuesday, October 7th. BNP Paribas Exane reduced their price objective on International Paper from $42.10 to $40.40 and set an “underperform” rating for the company in a report on Wednesday, October 8th. Seaport Res Ptn cut International Paper from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Jefferies Financial Group dropped their target price on International Paper from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, September 26th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.46.

International Paper 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.