&Partners Takes $317,000 Position in International Paper (NYSE:IP)

&Partners bought a new position in shares of International Paper (NYSE:IP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,351 shares of the basic materials company’s stock, valued at approximately $317,000.

Other institutional investors also recently modified their holdings of the company. MCF Advisors LLC lifted its holdings in International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after buying an additional 475 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of International Paper during the 1st quarter worth about $29,000. Assetmark Inc. grew its stake in International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after buying an additional 649 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in International Paper in the 2nd quarter valued at about $37,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Trading Up 2.0 %

Shares of International Paper stock opened at $48.90 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. International Paper has a 12-month low of $31.76 and a 12-month high of $49.04. The company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 99.80 and a beta of 1.06. The firm’s 50-day moving average price is $45.45 and its two-hundred day moving average price is $40.92.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts forecast that International Paper will post 1.64 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio is presently 377.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IP shares. Wells Fargo & Company upped their target price on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a report on Friday, June 28th. Truist Financial upped their price target on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada lifted their price objective on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the transaction, the director now owns 42,802 shares of the company’s stock, valued at approximately $1,830,641.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 3,600 shares of company stock valued at $161,100. 0.55% of the stock is currently owned by corporate insiders.

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.