Savant Capital LLC Raises Holdings in International Paper (NYSE:IP)

Savant Capital LLC grew its position in International Paper (NYSE:IP) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 30,295 shares of the basic materials company’s stock after purchasing an additional 1,399 shares during the quarter. Savant Capital LLC’s holdings in International Paper were worth $1,307,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of International Paper during the 2nd quarter worth $26,000. MCF Advisors LLC lifted its stake in shares of International Paper by 1,094.7% during the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of International Paper during the 1st quarter worth $29,000. Finally, Assetmark Inc. lifted its stake in shares of International Paper by 309.0% during the 4th 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. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now directly 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 can be accessed through this hyperlink. In related news, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now directly 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 can be accessed through this hyperlink. Also, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $42.77, for a total value of $25,662.00. Following the sale, the director now directly owns 42,802 shares in the company, valued at $1,830,641.54. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock valued at $809,922 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

IP has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on International Paper in a research note on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective for the company. Jefferies Financial Group upgraded International Paper from a “hold” rating to a “buy” rating and increased their price target for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Truist Financial increased their price target on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Argus upgraded 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. Finally, Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.21.

International Paper Stock Down 1.1 %

Shares of IP stock opened at $47.07 on Wednesday. The stock’s 50-day simple moving average is $46.07 and its 200-day simple moving average is $42.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. The firm has a market capitalization of $16.35 billion, a PE ratio of 96.06 and a beta of 1.04. International Paper has a fifty-two week low of $31.76 and a fifty-two week high of $49.24.

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

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio is presently 377.55%.

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.