Thoroughbred Financial Services LLC Takes Position in International Paper (NYSE:IP)

Thoroughbred Financial Services LLC bought a new stake in International Paper (NYSE:IP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,884 shares of the basic materials company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. acquired a new stake in International Paper during the 4th quarter worth approximately $37,000. Janney Montgomery Scott LLC raised its stake in shares of International Paper by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock worth $4,100,000 after purchasing an additional 17,516 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of International Paper by 1,896.7% during the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock worth $7,599,000 after purchasing an additional 199,687 shares during the period. Franklin Resources Inc. grew its position in International Paper by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock valued at $471,065,000 after buying an additional 4,960,005 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in International Paper in the 1st quarter valued at $1,312,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Trading Down 0.6 %

NYSE:IP opened at $49.52 on Wednesday. International Paper has a 52-week low of $31.76 and a 52-week high of $50.55. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $46.62 and a 200-day simple moving average of $42.50. The company has a market capitalization of $17.20 billion, a PE ratio of 101.06 and a beta of 1.04.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. The company had revenue of $4.73 billion during 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 firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts expect 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 was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.74%. The ex-dividend date was Thursday, August 15th. International Paper’s payout ratio is 377.55%.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total transaction of $29,688.00. Following the sale, the director now owns 39,802 shares of the company’s stock, valued at $1,969,402.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other International Paper news, SVP Clay R. Ellis sold 9,000 shares of the 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 transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the sale, the director now owns 39,802 shares in the company, valued at approximately $1,969,402.96. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock valued at $927,956 over the last three months. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IP shares. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $57.00 in a research note on Thursday, May 23rd. Royal Bank of Canada lifted their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, International Paper has an average 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.