Gulf International Bank UK Ltd Grows Stock Holdings in International Paper (NYSE:IP)

Gulf International Bank UK Ltd boosted its holdings in shares of International Paper (NYSE:IP) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,040 shares of the basic materials company’s stock after purchasing an additional 730 shares during the quarter. Gulf International Bank UK Ltd’s holdings in International Paper were worth $1,133,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in International Paper by 208.3% during the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares in the last quarter. CVA Family Office LLC purchased a new stake in International Paper during the fourth quarter valued at $27,000. Assetmark Inc. raised its stake in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in International Paper during the fourth quarter valued at $36,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in International Paper during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 1.0 %

IP stock opened at $46.08 on Friday. The company has a market capitalization of $16.00 billion, a PE ratio of 94.04 and a beta of 1.06. International Paper has a 12 month low of $30.23 and a 12 month high of $46.77. The firm’s 50-day moving average is $40.79 and its 200 day moving average is $38.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.68 and a quick ratio of 1.22.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. On average, research analysts anticipate that International Paper will post 1.84 EPS for the current year.

International Paper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is 377.55%.

Analysts Set New Price Targets

A number of research analysts have weighed in on IP shares. Argus cut shares of International Paper from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wells Fargo & Company boosted their price objective on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $57.00 in a research report on Thursday, May 23rd. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $46.00 in a research report on Wednesday, March 20th. Finally, Truist Financial boosted their price objective on shares of International Paper from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus target price of $44.71.

Insider Buying and Selling at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the transaction, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 3,600 shares of company stock valued at $144,744. Company insiders own 0.55% of the company’s stock.

About International Paper

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.