LGT Group Foundation Makes New Investment in International Paper (NYSE:IP)

LGT Group Foundation acquired a new position in International Paper (NYSE:IP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,520 shares of the basic materials company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IP. Principal Securities Inc. bought a new position in shares of International Paper during the 4th quarter valued at approximately $173,000. Teacher Retirement System of Texas grew its position in shares of International Paper by 183.4% during the 4th quarter. Teacher Retirement System of Texas now owns 111,644 shares of the basic materials company’s stock valued at $4,036,000 after acquiring an additional 72,255 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of International Paper by 18.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 8,192 shares of the basic materials company’s stock valued at $296,000 after acquiring an additional 1,288 shares during the period. Ieq Capital LLC lifted its stake in shares of International Paper by 17.9% during the 4th quarter. Ieq Capital LLC now owns 8,115 shares of the basic materials company’s stock valued at $293,000 after buying an additional 1,232 shares in the last quarter. Finally, Westpac Banking Corp lifted its stake in shares of International Paper by 27.6% during the 4th quarter. Westpac Banking Corp now owns 16,617 shares of the basic materials company’s stock valued at $601,000 after buying an additional 3,598 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

NYSE IP opened at $47.07 on Wednesday. The company’s 50 day simple moving average is $46.07 and its two-hundred day simple moving average is $42.00. The stock has a market capitalization of $16.35 billion, a PE ratio of 96.06 and a beta of 1.04. International Paper has a 1 year low of $31.76 and a 1 year high of $49.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper (NYSE:IP) last issued its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Analysts predict that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the transaction, the director now owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Holly G. Goughnour sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the transaction, the director now directly owns 43,402 shares in the company, valued at approximately $1,957,864.22. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock valued at $809,922 in the last quarter. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on IP shares. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada upped their price target on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, 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. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.21.

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.