Kwmg LLC raised its stake in International Paper (NYSE:IP – Free Report) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,895 shares of the basic materials company’s stock after acquiring an additional 14,326 shares during the quarter. Kwmg LLC’s holdings in International Paper were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in International Paper by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,817 shares of the basic materials company’s stock worth $2,391,000 after acquiring an additional 3,209 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of International Paper by 4.5% in the first quarter. Raymond James Trust N.A. now owns 8,660 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 369 shares during the last quarter. Desjardins Global Asset Management Inc. raised its holdings in shares of International Paper by 45.5% in the first quarter. Desjardins Global Asset Management Inc. now owns 675 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 211 shares during the last quarter. Cibc World Market Inc. acquired a new stake in shares of International Paper in the first quarter valued at approximately $206,000. Finally, Vontobel Holding Ltd. increased its holdings in International Paper by 1.6% during the first quarter. Vontobel Holding Ltd. now owns 41,970 shares of the basic materials company’s stock worth $1,947,000 after buying an additional 676 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on IP shares. Truist Financial reduced their target price on shares of International Paper from $38.00 to $29.00 and set a “hold” rating for the company in a research report on Tuesday, July 18th. Bank of America cut shares of International Paper from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $35.00 to $33.00 in a research report on Monday, July 10th. UBS Group cut their price objective on shares of International Paper from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, July 19th. Citigroup upped their price objective on shares of International Paper from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. Finally, StockNews.com started coverage on shares of International Paper in a research report on Friday, August 18th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.82.
Insider Buying and Selling at International Paper
In other International Paper news, VP Holly G. Goughnour sold 2,500 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $35.70, for a total transaction of $89,250.00. Following the completion of the sale, the vice president now owns 8,219 shares of the company’s stock, valued at approximately $293,418.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.51% of the company’s stock.
International Paper Trading Down 1.1 %
Shares of International Paper stock traded down $0.37 on Friday, hitting $34.24. The stock had a trading volume of 5,919,007 shares, compared to its average volume of 3,127,389. The stock has a 50 day moving average of $34.06 and a 200 day moving average of $33.66. International Paper has a twelve month low of $29.00 and a twelve month high of $41.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.12 and a current ratio of 1.59. The firm has a market capitalization of $11.85 billion, a P/E ratio of 11.77 and a beta of 1.07.
International Paper (NYSE:IP – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.17. International Paper had a return on equity of 12.22% and a net margin of 5.14%. The company had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The firm’s revenue was down 13.1% compared to the same quarter last year. Sell-side analysts expect that International Paper will post 2.21 earnings per share for the current fiscal year.
International Paper Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date was Monday, August 14th. International Paper’s dividend payout ratio is presently 63.57%.
About International Paper
International Paper Company produces renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through Industrial Packaging and Global Cellulose Fibers segment. The company's Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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