Pacer Advisors Inc. Trims Stock Holdings in International Paper (NYSE:IP)

Pacer Advisors Inc. lowered its holdings in shares of International Paper (NYSE:IP) by 26.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,569 shares of the basic materials company’s stock after selling 8,954 shares during the quarter. Pacer Advisors Inc.’s holdings in International Paper were worth $1,060,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ grew its stake in International Paper by 1.5% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 76,265 shares of the basic materials company’s stock worth $3,291,000 after acquiring an additional 1,100 shares in the last quarter. Ranch Capital Advisors Inc. boosted its holdings in shares of International Paper by 1.0% in the second quarter. Ranch Capital Advisors Inc. now owns 35,405 shares of the basic materials company’s stock valued at $1,528,000 after purchasing an additional 345 shares during the period. Intech Investment Management LLC purchased a new stake in shares of International Paper in the second quarter valued at approximately $317,000. Cowa LLC grew its stake in International Paper by 18.7% in the second quarter. Cowa LLC now owns 13,043 shares of the basic materials company’s stock worth $563,000 after purchasing an additional 2,054 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in International Paper by 102.2% during the 2nd quarter. XTX Topco Ltd now owns 23,067 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 11,658 shares during the period. Institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IP shares. Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They issued a “hold” rating and a $48.70 target price for the company. Truist Financial upped their price objective on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wells Fargo & Company upped their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $50.21.

Insider Activity

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the transaction, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Clay R. Ellis sold 9,000 shares of the 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 transaction, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Holly G. Goughnour sold 5,000 shares of the company’s 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 completion of the sale, the vice president now directly owns 16,788 shares in the company, valued at $792,729.36. The disclosure for this sale can be found here. Insiders have sold a total of 18,840 shares of company stock worth $902,294 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

International Paper Trading Down 0.0 %

NYSE:IP opened at $49.04 on Friday. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 100.08 and a beta of 1.04. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. 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 firm has a 50 day moving average of $47.26 and a 200 day moving average of $43.04.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Stockholders of record on Thursday, August 15th were paid a dividend of $0.4625 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.77%. International Paper’s payout ratio is 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.