Occidental Asset Management LLC increased its holdings in International Paper (NYSE:IP – Free Report) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,743 shares of the basic materials company’s stock after purchasing an additional 2,171 shares during the period. Occidental Asset Management LLC’s holdings in International Paper were worth $1,105,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in IP. CI Investments Inc. increased its position in International Paper by 975.2% in the 4th quarter. CI Investments Inc. now owns 5,333 shares of the basic materials company’s stock valued at $185,000 after acquiring an additional 4,837 shares during the period. MV Capital Management Inc. boosted its position in International Paper by 299.0% in the first quarter. MV Capital Management Inc. now owns 2,749 shares of the basic materials company’s stock valued at $99,000 after buying an additional 2,060 shares in the last quarter. DnB Asset Management AS increased its holdings in shares of International Paper by 104.9% in the first quarter. DnB Asset Management AS now owns 201,269 shares of the basic materials company’s stock valued at $7,258,000 after purchasing an additional 103,040 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in International Paper in the first quarter valued at approximately $198,000. Finally, SG Americas Securities LLC grew its stake in International Paper by 205.4% in the first quarter. SG Americas Securities LLC now owns 35,060 shares of the basic materials company’s stock valued at $1,264,000 after acquiring an additional 23,580 shares during the period. 80.78% of the stock is currently owned by institutional investors and hedge funds.
International Paper Stock Performance
International Paper stock traded down $0.20 during mid-day trading on Monday, hitting $34.04. The company had a trading volume of 554,461 shares, compared to its average volume of 3,112,489. The company has a current ratio of 1.59, a quick ratio of 1.12 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 11.76 and a beta of 1.07. The company’s fifty day moving average is $34.10 and its 200-day moving average is $33.61. International Paper has a 12-month low of $29.00 and a 12-month high of $41.89.
International Paper Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 5.43%. International Paper’s dividend payout ratio (DPR) is 63.57%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on IP shares. StockNews.com started coverage on International Paper in a research note on Friday, August 18th. They issued a “buy” rating on the stock. Citigroup boosted their price objective on International Paper from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, July 31st. Truist Financial decreased their target price on International Paper from $38.00 to $29.00 and set a “hold” rating for the company in a research report on Tuesday, July 18th. UBS Group dropped their target price on International Paper from $33.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 19th. Finally, Bank of America lowered shares of International Paper from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $35.00 to $33.00 in a report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.30.
Insiders Place Their Bets
In other International Paper news, VP Holly G. Goughnour sold 2,500 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.70, for a total value of $89,250.00. Following the transaction, the vice president now directly owns 8,219 shares in the company, valued at approximately $293,418.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by insiders.
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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