Choreo LLC Buys 10,535 Shares of International Paper (NYSE:IP)

Choreo LLC boosted its position in shares of International Paper (NYSE:IP) by 125.6% in the second quarter, Holdings Channel.com reports. The firm owned 18,922 shares of the basic materials company’s stock after acquiring an additional 10,535 shares during the period. Choreo LLC’s holdings in International Paper were worth $820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Systems of Alabama raised its holdings in shares of International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in International Paper by 27.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock valued at $50,000 after buying an additional 251 shares during the last quarter. Czech National Bank lifted its position in International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after buying an additional 295 shares in the last quarter. Kentucky Retirement Systems boosted its stake in shares of International Paper by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock worth $1,001,000 after buying an additional 298 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in shares of International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after buying an additional 318 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Buying and Selling

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the completion of the sale, the director now owns 42,202 shares of the company’s stock, valued at $1,843,383.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the sale, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the sale, the director now directly owns 42,202 shares in the company, valued at $1,843,383.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,840 shares of company stock valued at $898,268. Insiders own 0.55% of the company’s stock.

International Paper Trading Up 1.6 %

IP stock opened at $48.69 on Friday. International Paper has a one year low of $31.76 and a one year high of $49.39. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of 99.37 and a beta of 1.04. The company has a fifty day moving average price of $46.35 and a two-hundred day moving average price of $42.18. 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 announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. International Paper’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.4625 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IP. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and upped their target price for the stock from $38.00 to $57.00 in a report on Thursday, May 23rd. Truist Financial upped their price objective on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Royal Bank of Canada raised their target price 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. Stifel Nicolaus assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price target on the stock. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

About International Paper

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.