NewEdge Advisors LLC Buys 27,634 Shares of International Paper Company $IP

NewEdge Advisors LLC lifted its stake in International Paper Company (NYSE:IP) by 231.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 39,585 shares of the basic materials company’s stock after buying an additional 27,634 shares during the period. NewEdge Advisors LLC’s holdings in International Paper were worth $1,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IP. MCF Advisors LLC boosted its holdings in International Paper by 36.7% during the 4th quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares during the period. Rothschild Investment LLC grew its position in International Paper by 4.2% during the 4th quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock worth $236,000 after acquiring an additional 242 shares during the last quarter. Independent Advisor Alliance increased its stake in International Paper by 3.3% in the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock worth $305,000 after purchasing an additional 244 shares during the period. Horizon Investments LLC increased its stake in International Paper by 3.3% in the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 267 shares during the period. Finally, Stephens Inc. AR lifted its position in International Paper by 1.3% in the first quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company’s stock valued at $853,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Activity

In related news, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

International Paper Price Performance

IP opened at $40.73 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25. The stock has a market capitalization of $21.57 billion, a PE ratio of -6.25 and a beta of 0.94. The stock’s 50 day moving average price is $38.54 and its 200-day moving average price is $37.91.

International Paper (NYSE:IP) last announced its 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. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities research analysts predict that International Paper Company will post 1.34 EPS for the current year.

International Paper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.85 annualized dividend and a yield of 4.5%. International Paper’s dividend payout ratio is -28.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America cut shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised shares of International Paper from a “neutral” rating to an “overweight” rating and increased their price target for the company from $51.00 to $61.00 in a research report on Tuesday, July 28th. Truist Financial reissued a “buy” rating and issued a $49.00 price target (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Loop Capital set a $61.00 price objective on shares of International Paper in a research report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of International Paper in a research note on Friday, July 24th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, International Paper currently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.