SG Americas Securities LLC Cuts Stock Position in International Paper Company $IP

SG Americas Securities LLC cut its position in International Paper Company (NYSE:IP) by 34.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,037,440 shares of the basic materials company’s stock after selling 553,249 shares during the quarter. SG Americas Securities LLC’s holdings in International Paper were worth $37,037,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. McIlrath & Eck LLC grew its position in shares of International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after buying an additional 525 shares during the last quarter. MV Capital Management Inc. purchased a new stake in International Paper during the fourth quarter valued at approximately $25,000. DV Equities LLC purchased a new stake in International Paper during the fourth quarter valued at approximately $29,000. Sound Income Strategies LLC boosted its stake in International Paper by 94.0% in the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 344 shares in the last quarter. Finally, Summit Securities Group LLC boosted its stake in International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 5,875 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IP shares. Truist Financial reduced their price target on International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Zacks Research downgraded International Paper from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 23rd. Citigroup reduced their target price on International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Weiss Ratings cut International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada lowered their price target on International Paper from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, International Paper has an average rating of “Moderate Buy” and a consensus price target of $43.73.

Insiders Place Their Bets

In related news, Director Scott Tozier purchased 10,000 shares of International Paper stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

International Paper Price Performance

NYSE:IP opened at $36.72 on Wednesday. International Paper Company has a one year low of $29.26 and a one year high of $56.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.94 and a current ratio of 1.21. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of -5.77 and a beta of 0.96. The firm’s fifty day moving average is $33.73 and its two-hundred day moving average is $38.16.

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

International Paper Announces Dividend

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

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.