UMB Bank n.a. Trims Stake in International Paper (NYSE:IP)

UMB Bank n.a. cut its position in shares of International Paper (NYSE:IP) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,786 shares of the basic materials company’s stock after selling 301 shares during the period. UMB Bank n.a.’s holdings in International Paper were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in International Paper by 1.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 878,221 shares of the basic materials company’s stock worth $46,686,000 after acquiring an additional 15,904 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of International Paper in the 4th quarter valued at about $788,000. Jones Financial Companies Lllp lifted its position in shares of International Paper by 18.0% in the 4th quarter. Jones Financial Companies Lllp now owns 17,586 shares of the basic materials company’s stock worth $946,000 after purchasing an additional 2,685 shares during the period. Wakefield Asset Management LLLP bought a new position in shares of International Paper during the fourth quarter valued at approximately $502,000. Finally, Korea Investment CORP boosted its stake in shares of International Paper by 220.6% during the fourth quarter. Korea Investment CORP now owns 310,674 shares of the basic materials company’s stock valued at $16,720,000 after purchasing an additional 213,783 shares in the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at International Paper

In related news, CAO Holly G. Goughnour sold 7,500 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $44.85, for a total transaction of $336,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,525 shares in the company, valued at $1,413,896.25. The trade was a 19.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on IP shares. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Truist Financial set a $59.00 price objective on International Paper in a research report on Wednesday, May 28th. JPMorgan Chase & Co. assumed coverage on shares of International Paper in a research report on Thursday, March 20th. They set an “overweight” rating and a $59.00 price target for the company. Bank of America began coverage on shares of International Paper in a research note on Thursday, February 13th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $40.00 target price (down previously from $45.00) on shares of International Paper in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Paper has a consensus rating of “Hold” and an average target price of $54.54.

International Paper Stock Down 1.0%

NYSE:IP opened at $47.12 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.66. International Paper has a twelve month low of $41.50 and a twelve month high of $60.36. The company has a market cap of $24.87 billion, a PE ratio of 30.01, a P/E/G ratio of 0.39 and a beta of 1.04. The company’s 50 day moving average is $47.13 and its two-hundred day moving average is $52.27.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.12). The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.38 billion. International Paper had a net margin of 2.99% and a return on equity of 4.75%. International Paper’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. Analysts anticipate that International Paper will post 2.77 EPS for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, May 23rd. International Paper’s payout ratio is 158.12%.

International Paper Profile

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.