Leonteq Securities AG Makes New $744,000 Investment in International Paper Company $IP

Leonteq Securities AG acquired a new position in shares of International Paper Company (NYSE:IP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 18,887 shares of the basic materials company’s stock, valued at approximately $744,000.

Several other institutional investors have also recently bought and sold shares of IP. McIlrath & Eck LLC raised its holdings in International Paper by 452.6% during the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after buying an additional 525 shares during the last quarter. Sound Income Strategies LLC raised its holdings in International Paper by 94.0% during the fourth quarter. Sound Income Strategies LLC now owns 710 shares of the basic materials company’s stock worth $31,000 after buying an additional 344 shares during the last quarter. Kelleher Financial Advisors acquired a new position in International Paper during the third quarter worth $36,000. Laurel Wealth Advisors LLC acquired a new position in International Paper during the fourth quarter worth $37,000. Finally, Cullen Frost Bankers Inc. raised its holdings in International Paper by 1,857.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,116 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,059 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Price Performance

Shares of NYSE:IP opened at $31.28 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $16.56 billion, a PE ratio of -4.92 and a beta of 0.93. International Paper Company has a twelve month low of $29.26 and a twelve month high of $56.13. The company has a 50-day moving average price of $34.33 and a two-hundred day moving average price of $38.68.

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

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, May 22nd. International Paper’s dividend payout ratio (DPR) is -29.09%.

Insider Buying and Selling

In other news, Director Scott Tozier acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was bought at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the transaction, the director owned 10,025 shares of the company’s stock, valued at $313,782.50. The trade was a 40,000.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anders Gustafsson acquired 13,217 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $37.83 per share, with a total value of $499,999.11. Following the completion of the transaction, the director directly owned 26,092 shares of the company’s stock, valued at $987,060.36. This trade represents a 102.66% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 36,092 shares of company stock valued at $1,313,064 over the last 90 days. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IP has been the topic of several research reports. Citigroup lowered their price objective on shares of International Paper from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 1st. BNP Paribas Exane cut their price target on shares of International Paper from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of International Paper in a report on Wednesday, April 1st. They set a “hold” rating and a $38.00 price target on the stock. Truist Financial cut their price target on shares of International Paper from $48.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Wells Fargo & Company upgraded shares of International Paper from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $38.00 to $39.00 in a report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.