Lido Advisors LLC Buys 843 Shares of International Paper (NYSE:IP)

Lido Advisors LLC lifted its stake in shares of International Paper (NYSE:IP) by 2.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 42,059 shares of the basic materials company’s stock after acquiring an additional 843 shares during the period. Lido Advisors LLC’s holdings in International Paper were worth $1,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IP. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of International Paper by 118,877.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,449,752 shares of the basic materials company’s stock worth $205,167,000 after acquiring an additional 6,444,331 shares during the last quarter. Mizuho Markets Cayman LP bought a new stake in International Paper in the first quarter worth $162,427,000. Lavaca Capital LLC bought a new stake in International Paper in the first quarter worth $162,329,000. Mizuho Markets Americas LLC lifted its stake in International Paper by 212.9% in the first quarter. Mizuho Markets Americas LLC now owns 4,504,355 shares of the basic materials company’s stock worth $162,427,000 after purchasing an additional 3,064,645 shares during the last quarter. Finally, Greenhaven Associates Inc. lifted its stake in International Paper by 43.3% in the second quarter. Greenhaven Associates Inc. now owns 9,123,905 shares of the basic materials company’s stock worth $290,231,000 after purchasing an additional 2,758,480 shares during the last quarter. 80.78% of the stock is owned by institutional investors.

International Paper Price Performance

Shares of IP opened at $34.07 on Thursday. The company has a market capitalization of $11.79 billion, a P/E ratio of 46.04 and a beta of 1.05. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $34.25 and a 200 day moving average of $33.24. International Paper has a twelve month low of $29.00 and a twelve month high of $41.89.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. International Paper had a net margin of 1.31% and a return on equity of 10.79%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.81 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, equities research analysts anticipate that International Paper will post 2.11 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 5.43%. The ex-dividend date is Tuesday, November 14th. International Paper’s dividend payout ratio is currently 250.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of International Paper from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. Truist Financial raised shares of International Paper from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $43.00 in a research note on Thursday, September 21st. UBS Group decreased their price target on shares of International Paper from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 19th. StockNews.com downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Jefferies Financial Group decreased their price target on shares of International Paper from $33.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, International Paper presently has a consensus rating of “Hold” and an average target price of $36.89.

International Paper Profile

International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.