Hsbc Holdings PLC Grows Stock Position in International Paper Company $IP

Hsbc Holdings PLC boosted its holdings in International Paper Company (NYSE:IP) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 906,269 shares of the basic materials company’s stock after buying an additional 22,984 shares during the period. Hsbc Holdings PLC’s holdings in International Paper were worth $35,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of International Paper by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock worth $2,535,058,000 after acquiring an additional 310,834 shares during the period. Capital International Investors boosted its position in shares of International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock worth $2,498,013,000 after acquiring an additional 14,422,616 shares during the last quarter. Capital Research Global Investors grew its holdings in International Paper by 0.4% in the fourth quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after purchasing an additional 204,654 shares during the period. State Street Corp increased its position in International Paper by 1.3% during the fourth quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock worth $1,182,083,000 after purchasing an additional 397,673 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in International Paper by 81.6% during the fourth quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock worth $584,270,000 after purchasing an additional 6,663,986 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Price Performance

IP opened at $36.72 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. International Paper Company has a 52-week low of $29.26 and a 52-week high of $56.13. The company has a 50 day moving average of $33.73 and a two-hundred day moving average of $38.16. The company has a market cap of $19.44 billion, a P/E ratio of -5.77 and a beta of 0.96.

International Paper (NYSE:IP) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $5.97 billion during the quarter, compared to analysts’ expectations of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. On average, analysts expect that International Paper Company will post 1.38 earnings per share for the current year.

International Paper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 5.0%. The ex-dividend date was Friday, May 22nd. International Paper’s dividend payout ratio is currently -29.09%.

Insider Transactions at International Paper

In related news, Director Scott Tozier acquired 10,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $31.30 per share, with a total value of $313,000.00. Following the completion of the transaction, the director directly owned 10,025 shares of the company’s stock, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

IP has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $39.00 in a report on Monday, May 4th. Royal Bank Of Canada cut their target price on International Paper from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Citigroup reduced their target price on International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Weiss Ratings downgraded International Paper from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on International Paper in a research note on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.73.

International Paper Profile

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.