Jefferies Financial Group Inc. Cuts Stake in International Paper Company $IP

Jefferies Financial Group Inc. trimmed its stake in International Paper Company (NYSE:IP) by 72.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,112 shares of the basic materials company’s stock after selling 53,163 shares during the quarter. Jefferies Financial Group Inc.’s holdings in International Paper were worth $942,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in International Paper by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 18,737,896 shares of the basic materials company’s stock valued at $877,496,000 after acquiring an additional 1,592,411 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of International Paper by 9.7% in the 2nd quarter. Westfield Capital Management Co. LP now owns 2,323,693 shares of the basic materials company’s stock valued at $108,819,000 after purchasing an additional 205,888 shares in the last quarter. Consolidated Planning Corp purchased a new stake in shares of International Paper during the 2nd quarter worth about $317,000. Whalen Wealth Management Inc. acquired a new stake in International Paper during the 2nd quarter worth approximately $604,000. Finally, Tableaux LLC acquired a new stake in International Paper during the 2nd quarter worth approximately $2,342,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of International Paper from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, October 13th. JPMorgan Chase & Co. decreased their price target on shares of International Paper from $54.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of International Paper in a report on Monday. Wall Street Zen cut International Paper from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, UBS Group lowered their target price on International Paper from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, International Paper has a consensus rating of “Hold” and an average target price of $50.62.

Insider Buying and Selling at International Paper

In other news, SVP Joseph R. Saab sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.53, for a total value of $409,770.00. Following the sale, the senior vice president owned 27,673 shares in the company, valued at approximately $1,259,951.69. This represents a 24.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.35% of the company’s stock.

International Paper Price Performance

Shares of NYSE IP opened at $39.35 on Thursday. 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 fifty-two week low of $35.56 and a fifty-two week high of $60.15. The business has a 50 day moving average price of $43.03 and a two-hundred day moving average price of $46.69. The firm has a market cap of $20.78 billion, a PE ratio of -393.50, a price-to-earnings-growth ratio of 0.54 and a beta of 1.12.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 30th. The basic materials company reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.53 by ($0.96). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 56.4% compared to the same quarter last year. Sell-side analysts expect that International Paper Company will post 2.77 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 4.7%. International Paper’s dividend payout ratio is currently -70.88%.

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.