International Paper Company $IP Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its holdings in International Paper Company (NYSE:IP) by 15.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 816,388 shares of the basic materials company’s stock after selling 146,912 shares during the quarter. SG Americas Securities LLC’s holdings in International Paper were worth $37,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. AlphaQuest LLC raised its stake in shares of International Paper by 63,400.0% during the second quarter. AlphaQuest LLC now owns 635 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 634 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of International Paper in the 2nd quarter worth approximately $33,000. Elevation Point Wealth Partners LLC bought a new position in shares of International Paper in the second quarter valued at approximately $35,000. Quintet Private Bank Europe S.A. acquired a new position in shares of International Paper during the second quarter valued at approximately $37,000. Finally, CYBER HORNET ETFs LLC bought a new stake in International Paper during the second quarter worth approximately $43,000. Institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BNP Paribas Exane upgraded International Paper from an “underperform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Monday, November 24th. Truist Financial raised their price objective on shares of International Paper from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup dropped their target price on shares of International Paper from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Finally, UBS Group dropped their price target on International Paper from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Ten equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.98.

Insiders Place Their Bets

In related news, SVP Clay R. Ellis sold 18,819 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $36.85, for a total transaction of $693,480.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.35% of the stock is currently owned by company insiders.

International Paper Stock Down 3.5%

Shares of NYSE:IP opened at $39.58 on Thursday. The firm has a 50 day simple moving average of $38.54 and a 200 day simple moving average of $44.89. International Paper Company has a 52 week low of $35.56 and a 52 week high of $60.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.31. The company has a market cap of $20.90 billion, a PE ratio of -15.16, a price-to-earnings-growth ratio of 0.45 and a beta of 1.10.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.96). The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. International Paper had a negative return on equity of 0.16% and a negative net margin of 5.45%.The company’s revenue for the quarter was up 56.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. As a group, research analysts expect that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. International Paper’s payout ratio is presently -70.88%.

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.