15,544 Shares in International Paper Company $IP Acquired by Wiregrass Investment Management LLC

Wiregrass Investment Management LLC acquired a new stake in International Paper Company (NYSE:IP) during the first quarter, HoldingsChannel.com reports. The fund acquired 15,544 shares of the basic materials company’s stock, valued at approximately $555,000.

Several other institutional investors have also modified their holdings of IP. SG Americas Securities LLC boosted its position in shares of International Paper by 94.8% during the 4th quarter. SG Americas Securities LLC now owns 1,590,689 shares of the basic materials company’s stock worth $62,657,000 after acquiring an additional 774,301 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of International Paper by 144.2% in the 4th quarter. DNB Asset Management AS now owns 258,920 shares of the basic materials company’s stock valued at $10,199,000 after acquiring an additional 152,907 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of International Paper by 764.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 212,999 shares of the basic materials company’s stock worth $8,390,000 after acquiring an additional 188,357 shares in the last quarter. Alpha Omega Wealth Management LLC purchased a new stake in International Paper during the fourth quarter worth approximately $1,539,000. Finally, Nordea Investment Management AB lifted its stake in International Paper by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 708,620 shares of the basic materials company’s stock worth $27,998,000 after purchasing an additional 124,973 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Price Performance

Shares of NYSE IP opened at $36.36 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.55. International Paper Company has a twelve month low of $29.26 and a twelve month high of $56.13. The stock has a 50 day moving average of $35.19 and a two-hundred day moving average of $37.98. The stock has a market cap of $19.25 billion, a P/E ratio of -5.72 and a beta of 0.94.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.02 billion. International Paper had a negative net margin of 13.42% and a negative return on equity of 0.49%. International Paper’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. On average, research analysts forecast that International Paper Company will post 1.39 earnings per share for the current year.

International Paper Announces Dividend

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 paid a dividend of $0.4625 per share. The ex-dividend date is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 5.1%. International Paper’s dividend payout ratio is currently -29.09%.

Insider Transactions at International Paper

In other International Paper news, Director Scott Tozier acquired 10,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $31.30 per share, for a total transaction of $313,000.00. Following the completion of the purchase, the director owned 10,025 shares in the company, valued at $313,782.50. This trade represents a 40,000.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on IP shares. Truist Financial increased their price target on shares of International Paper from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Seaport Research Partners upgraded shares of International Paper from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Friday, May 1st. Weiss Ratings cut shares of International Paper from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, April 27th. JPMorgan Chase & Co. increased their target price on shares of International Paper from $43.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, International Paper has an average rating of “Moderate Buy” and a consensus price target of $44.31.

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.