Hill City Capital LP Takes $194.31 Billion Position in International Paper Company $IP

Hill City Capital LP bought a new stake in shares of International Paper Company (NYSE:IP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,100,000 shares of the basic materials company’s stock, valued at approximately $194,310,000,000. International Paper comprises about 4.5% of Hill City Capital LP’s investment portfolio, making the stock its 6th largest holding.

A number of other large investors also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new stake in International Paper in the first quarter worth $249,000. Intech Investment Management LLC grew its stake in shares of International Paper by 100.5% during the first quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company’s stock valued at $1,709,000 after buying an additional 16,055 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of International Paper by 20.8% in the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock worth $812,000 after buying an additional 2,981 shares during the period. Jump Financial LLC lifted its stake in shares of International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after acquiring an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of International Paper by 8.0% in the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock valued at $1,580,000 after acquiring an additional 2,493 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada increased their target price on International Paper from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Citigroup lifted their price target on International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. upgraded International Paper from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $51.00 to $61.00 in a research report on Tuesday, July 28th. Wall Street Zen raised International Paper from a “sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, UBS Group raised their target price on shares of International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, International Paper has a consensus rating of “Moderate Buy” and an average target price of $48.75.

Insider Activity

In other International Paper news, CAO Holly G. Goughnour sold 3,500 shares of the firm’s stock in a transaction dated 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 directly owned 34,248 shares in the company, valued at $1,437,046.08. This trade represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $1,009,400.00. Following the sale, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. The trade was a 18.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

International Paper Stock Up 0.1%

Shares of International Paper stock opened at $41.53 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $39.21 and its two-hundred day simple moving average is $37.90. The company has a market cap of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25.

International Paper (NYSE:IP) last posted its earnings results on Thursday, July 30th. The basic materials company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. Research analysts anticipate that International Paper Company will post 1.34 EPS for the current year.

International Paper Dividend Announcement

The business 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 $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 presently -28.37%.

International Paper 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.