International Paper Company $IP Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of International Paper Company (NYSE:IP) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 906,269 shares of the basic materials company’s stock after acquiring an additional 22,984 shares during the quarter. Hsbc Holdings PLC owned 0.17% of International Paper worth $35,743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors raised its holdings in International Paper by 51.4% during the third quarter. Capital International Investors now owns 48,990,719 shares of the basic materials company’s stock worth $2,272,966,000 after purchasing an additional 16,622,062 shares during the last quarter. Franklin Resources Inc. grew its holdings in International Paper by 81.6% in the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after purchasing an additional 6,663,986 shares during the last quarter. Norges Bank purchased a new position in shares of International Paper in the fourth quarter valued at $250,093,000. Capital Research Global Investors raised its stake in shares of International Paper by 7.5% during the 3rd quarter. Capital Research Global Investors now owns 54,330,790 shares of the basic materials company’s stock worth $2,520,945,000 after buying an additional 3,768,772 shares during the last quarter. Finally, Atlas FRM LLC raised its stake in shares of International Paper by 56.2% during the 4th quarter. Atlas FRM LLC now owns 5,000,000 shares of the basic materials company’s stock worth $196,950,000 after buying an additional 1,800,000 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Transactions at International Paper

In other news, Director Scott Tozier bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average price of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the transaction, the director owned 10,025 shares in the company, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.

International Paper Trading Down 0.5%

International Paper stock opened at $36.72 on Wednesday. The stock has a 50-day moving average price of $33.73 and a 200 day moving average price of $38.16. International Paper Company has a 52 week low of $29.26 and a 52 week high of $56.13. The stock has a market cap of $19.44 billion, a PE ratio of -5.77 and a beta of 0.96. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55.

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

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $1.85 annualized dividend and a dividend yield of 5.0%. International Paper’s dividend payout ratio is presently -29.09%.

Analysts Set New Price Targets

IP has been the topic of a number of research reports. BNP Paribas Exane lowered their price objective on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Truist Financial cut their target price on shares of International Paper from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of International Paper from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Seaport Research Partners raised shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Friday, May 1st. Finally, UBS Group cut their price objective on International Paper from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.73.

International Paper 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.