Ceredex Value Advisors LLC Acquires Shares of 1,205,121 International Paper Company $IP

Ceredex Value Advisors LLC acquired a new stake in International Paper Company (NYSE:IP) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,205,121 shares of the basic materials company’s stock, valued at approximately $45,915,000. International Paper accounts for about 1.3% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Notis McConarty Edward purchased a new stake in International Paper during the 2nd quarter valued at $229,000. Johnson Financial Group Inc. purchased a new position in International Paper during the second quarter worth $229,000. one8zero8 LLC purchased a new position in International Paper during the second quarter worth $236,000. West Family Investments Inc. bought a new position in International Paper during the second quarter valued at $384,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of International Paper in the second quarter valued at $222,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 1.6%

NYSE:IP opened at $40.42 on Friday. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25. The company has a market cap of $21.41 billion, a price-to-earnings ratio of -6.20 and a beta of 0.94. The stock has a fifty day simple moving average of $39.10 and a 200-day simple moving average of $37.90. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57.

International Paper (NYSE:IP) last issued its earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm 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 business’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. Analysts anticipate 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 given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 14th. International Paper’s payout ratio is -28.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Seaport Research Partners reiterated a “buy” rating and set a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research report on Tuesday, July 14th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada boosted their target price on International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.75.

Insider Transactions at International Paper

In other news, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction that occurred on 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 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 owned 34,248 shares of the company’s stock, valued at $1,437,046.08. The trade was a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

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.