Daiwa Securities Group Inc. Has $1.75 Million Stake in International Paper (NYSE:IP)

Daiwa Securities Group Inc. raised its stake in shares of International Paper (NYSE:IP) by 8.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 40,505 shares of the basic materials company’s stock after purchasing an additional 3,304 shares during the period. Daiwa Securities Group Inc.’s holdings in International Paper were worth $1,748,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of International Paper in the 2nd quarter worth approximately $26,000. MCF Advisors LLC boosted its stake in shares of International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after buying an additional 624 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of International Paper in the 1st quarter worth approximately $29,000. Finally, Assetmark Inc. boosted its stake in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 1.6 %

Shares of IP stock opened at $48.70 on Friday. The company’s fifty day simple moving average is $46.35 and its two-hundred day simple moving average is $42.24. 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 has a 1 year low of $31.76 and a 1 year high of $49.39. The stock has a market capitalization of $16.92 billion, a price-to-earnings ratio of 99.39 and a beta of 1.04.

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

International Paper Dividend Announcement

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

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction 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 directly owns 42,802 shares in the company, valued at $1,830,641.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the sale, the director now directly owns 42,802 shares in the company, valued at $1,830,641.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,840 shares of company stock worth $898,268. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IP. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Wells Fargo & Company boosted their target price on International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, August 14th. Truist Financial lifted their price target on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Royal Bank of Canada lifted their price target on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

International Paper Company 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.