7,337 Shares in International Paper (NYSE:IP) Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of International Paper (NYSE:IP) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,337 shares of the basic materials company’s stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Retirement Systems of Alabama lifted its position in shares of International Paper by 0.3% during the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after purchasing an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in International Paper by 27.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock valued at $50,000 after buying an additional 251 shares during the last quarter. Czech National Bank lifted its position in shares of International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after buying an additional 295 shares in the last quarter. Altrius Capital Management Inc boosted its stake in shares of International Paper by 0.3% in the 2nd quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after buying an additional 296 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in shares of International Paper by 4.2% in the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after acquiring an additional 318 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the completion of the transaction, the director now directly owns 39,802 shares of the company’s stock, valued at approximately $1,969,402.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,969,402.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,840 shares of company stock valued at $902,294. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IP. Argus raised International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Wells Fargo & Company lifted their price objective 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. 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. 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 research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, International Paper presently has an average rating of “Moderate Buy” and an average price target of $50.21.

International Paper Trading Down 0.0 %

NYSE:IP opened at $49.04 on Friday. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The stock’s fifty day moving average price is $47.26 and its two-hundred day moving average price is $43.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market cap of $17.03 billion, a P/E ratio of 100.08 and a beta of 1.04.

International Paper (NYSE:IP) last issued its quarterly earnings data 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 business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The firm’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 EPS. As a group, analysts expect that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a dividend of $0.4625 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.85 annualized dividend and a yield of 3.77%. International Paper’s dividend payout ratio is currently 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.