Lmcg Investments LLC Purchases New Stake in International Paper Company $IP

Lmcg Investments LLC purchased a new position in shares of International Paper Company (NYSE:IP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,379 shares of the basic materials company’s stock, valued at approximately $610,000.

A number of other hedge funds have also recently made changes to their positions in the business. Man Group plc bought a new stake in International Paper in the second quarter worth $24,640,000. Mitchell & Pahl Private Wealth LLC purchased a new stake in International Paper during the third quarter valued at about $2,122,000. Amundi purchased a new stake in International Paper during the second quarter valued at about $82,666,000. The Manufacturers Life Insurance Company boosted its position in International Paper by 50.0% during the second quarter. The Manufacturers Life Insurance Company now owns 1,167,393 shares of the basic materials company’s stock valued at $44,478,000 after buying an additional 389,092 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of International Paper during the second quarter valued at about $1,603,000. 81.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IP shares. Wells Fargo & Company decreased their price objective on International Paper from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Citigroup lowered their target price on International Paper from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Truist Financial dropped their target price on International Paper from $49.00 to $41.00 and set a “buy” rating for the company in a report on Monday, October 12th. Loop Capital set a $61.00 price target on International Paper in a research report on Tuesday, July 28th. Finally, Wall Street Zen lowered International Paper from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $46.90.

International Paper Stock Up 0.1%

Shares of NYSE IP opened at $33.66 on Friday. The firm’s fifty day moving average is $35.62 and its 200 day moving average is $35.97. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The company has a market cap of $17.82 billion, a price-to-earnings ratio of -5.16, a PEG ratio of 4.44 and a beta of 0.93.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 EPS. On average, equities research analysts expect that International Paper Company will post 1.26 earnings per share for the current year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.4625 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 5.5%. International Paper’s payout ratio is presently -28.37%.

Insider Activity

In other news, VP William Hamic sold 24,500 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

About International Paper

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.