Raiffeisen Bank International AG Sells 3,935 Shares of International Paper Company $IP

Raiffeisen Bank International AG reduced its position in shares of International Paper Company (NYSE:IP) by 74.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,352 shares of the basic materials company’s stock after selling 3,935 shares during the period. Raiffeisen Bank International AG’s holdings in International Paper were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Rise Advisors LLC grew its holdings in International Paper by 281.3% during the 1st quarter. Rise Advisors LLC now owns 469 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 346 shares during the last quarter. AlphaQuest LLC lifted its holdings 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 worth $30,000 after purchasing an additional 634 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of International Paper in the second quarter worth $33,000. Zions Bancorporation National Association UT bought a new stake in shares of International Paper in the first quarter worth $34,000. Finally, Quintet Private Bank Europe S.A. acquired a new stake in International Paper in the second quarter valued at $37,000. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other news, SVP Joseph R. Saab sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the completion of the sale, the senior vice president owned 27,673 shares in the company, valued at $1,259,951.69. The trade was a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

International Paper Stock Performance

Shares of IP stock opened at $36.41 on Thursday. The firm has a 50 day moving average of $43.87 and a 200-day moving average of $46.91. The company has a market cap of $19.23 billion, a price-to-earnings ratio of -364.10, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. International Paper Company has a 52 week low of $35.79 and a 52 week high of $60.36.

International Paper (NYSE:IP) last issued its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.96). The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.76 billion. International Paper had a positive return on equity of 2.63% and a negative net margin of 0.12%.The firm’s revenue was up 56.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. On average, equities analysts forecast that International Paper Company will post 2.77 earnings per share for the current year.

International Paper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 5.1%. International Paper’s payout ratio is currently -70.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IP. JPMorgan Chase & Co. lowered their price objective on International Paper from $54.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Truist Financial decreased their target price on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Seaport Res Ptn downgraded shares of International Paper from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Royal Bank Of Canada decreased their price objective on shares of International Paper from $61.00 to $57.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings downgraded shares of International Paper from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.92.

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.