Evergreen Capital Management LLC Buys 420 Shares of International Paper (NYSE:IP)

Evergreen Capital Management LLC lifted its position in International Paper (NYSE:IP) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,404 shares of the basic materials company’s stock after acquiring an additional 420 shares during the quarter. Evergreen Capital Management LLC’s holdings in International Paper were worth $665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TrinityPoint Wealth LLC increased its stake in International Paper by 6.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 9,605 shares of the basic materials company’s stock valued at $347,000 after buying an additional 608 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in International Paper by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 68,289 shares of the basic materials company’s stock worth $2,469,000 after acquiring an additional 496 shares during the period. Assetmark Inc. boosted its position in International Paper by 309.0% in the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 649 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in International Paper by 5.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 164,895 shares of the basic materials company’s stock valued at $5,961,000 after purchasing an additional 8,933 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of International Paper during the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

IP has been the topic of a number of research analyst reports. Stifel Nicolaus assumed coverage on shares of International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price target on the stock. Truist Financial increased their target price on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. 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. Royal Bank of Canada increased their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price target 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. 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, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $50.21.

Insider Activity

In related news, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the sale, the senior vice president now directly owns 49,832 shares of the company’s stock, valued at $2,433,296.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’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 sale, the director now owns 42,202 shares in the company, valued at approximately $1,843,383.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,440 shares of company stock worth $927,956. 0.55% of the stock is currently owned by insiders.

International Paper Price Performance

IP stock opened at $48.09 on Thursday. The firm has a 50 day moving average of $47.15 and a 200-day moving average of $42.96. The firm has a market capitalization of $16.71 billion, a P/E ratio of 98.14 and a beta of 1.04. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62.

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

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.85%. International Paper’s payout ratio is currently 377.55%.

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.