Hsbc Holdings PLC Sells 264,094 Shares of International Paper (NYSE:IP)

Hsbc Holdings PLC decreased its holdings in International Paper (NYSE:IP) by 26.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 734,935 shares of the basic materials company’s stock after selling 264,094 shares during the period. Hsbc Holdings PLC owned approximately 0.21% of International Paper worth $31,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blair William & Co. IL increased its stake in shares of International Paper by 1.6% in the 2nd quarter. Blair William & Co. IL now owns 71,764 shares of the basic materials company’s stock valued at $3,097,000 after purchasing an additional 1,120 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of International Paper by 23.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,676 shares of the basic materials company’s stock valued at $1,755,000 after purchasing an additional 7,820 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of International Paper in the 2nd quarter valued at $206,000. Mercer Global Advisors Inc. ADV grew its position in International Paper by 0.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 122,648 shares of the basic materials company’s stock worth $5,292,000 after acquiring an additional 851 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in International Paper during the 2nd quarter worth $119,012,000. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the transaction, the director now directly owns 42,202 shares of the company’s stock, valued at approximately $1,843,383.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Joseph R. Saab sold 2,440 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the sale, the senior vice president now directly owns 18,668 shares of the company’s stock, valued at approximately $882,996.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the completion of the sale, the director now directly owns 42,202 shares of the company’s stock, valued at $1,843,383.36. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock valued at $927,956 in the last ninety days. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IP has been the topic of a number of research reports. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Truist Financial boosted their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Stifel Nicolaus initiated coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada lifted their target price on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus target price of $50.21.

International Paper Stock Down 2.5 %

Shares of IP opened at $48.71 on Friday. The company has a market capitalization of $16.92 billion, a PE ratio of 99.41 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $47.00 and its two-hundred day moving average price is $42.73. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. On average, analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

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.