TCM Advisors LLC Makes New $682,000 Investment in International Paper Company $IP

TCM Advisors LLC acquired a new position in shares of International Paper Company (NYSE:IP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 17,900 shares of the basic materials company’s stock, valued at approximately $682,000.

Other hedge funds have also modified their holdings of the company. McIlrath & Eck LLC grew its stake in International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 525 shares in the last quarter. MV Capital Management Inc. acquired a new stake in International Paper in the 4th quarter valued at about $25,000. Ascentis Independent Advisors acquired a new stake in International Paper in the 1st quarter valued at about $28,000. DV Equities LLC acquired a new stake in International Paper in the 4th quarter valued at about $29,000. Finally, Summit Securities Group LLC boosted its stake in shares of International Paper by 115.4% in the 4th quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock valued at $31,000 after buying an additional 5,875 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at International Paper

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IP shares. UBS Group boosted their price objective on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings raised shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Loop Capital set a $61.00 price target on shares of International Paper in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of International Paper from a “sell” rating to a “hold” rating in a report on Monday, August 17th. Finally, Citigroup increased their price objective on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.75.

International Paper Stock Up 0.1%

Shares of NYSE IP opened at $41.53 on Monday. The company has a market capitalization of $21.99 billion, a price-to-earnings ratio of -6.37 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. The business has a 50-day moving average of $39.21 and a two-hundred day moving average of $37.90. International Paper Company has a 1 year low of $29.26 and a 1 year high of $50.25.

International Paper (NYSE:IP) last released its quarterly earnings data 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 business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, analysts forecast that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Dividend Announcement

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

International Paper Company Profile

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.