TCM Advisors LLC Buys New Position in International Paper Company $IP

TCM Advisors LLC purchased a new position in shares of International Paper Company (NYSE:IP) during the second quarter, Holdings Channel reports. The firm purchased 17,900 shares of the basic materials company’s stock, valued at approximately $682,000.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in International Paper during the second quarter worth approximately $1,940,896,000. Bank of New York Mellon Corp acquired a new stake in shares of International Paper in the second quarter valued at approximately $689,498,000. Capital International Investors boosted its holdings in shares of International Paper by 29.4% in the fourth quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after acquiring an additional 14,422,616 shares during the period. Atlas FRM LLC purchased a new position in shares of International Paper during the second quarter worth approximately $374,904,000,000. Finally, Franklin Resources Inc. increased its holdings in shares of International Paper by 81.6% in the 4th quarter. Franklin Resources Inc. now owns 14,832,952 shares of the basic materials company’s stock valued at $584,270,000 after acquiring an additional 6,663,986 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Trading Up 0.1%

NYSE:IP opened at $41.53 on Monday. The firm has a market cap of $21.99 billion, a P/E ratio of -6.37 and a beta of 0.94. 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 stock’s 50 day simple moving average is $39.21 and its 200-day simple moving average is $37.90. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25.

International Paper (NYSE:IP) last released its quarterly 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. 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 during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the business earned $0.20 earnings per share. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. Equities analysts anticipate that International Paper Company will post 1.34 EPS for the current year.

International Paper Dividend Announcement

The company 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 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 4.5%. International Paper’s dividend payout ratio is presently -28.37%.

Insider Buying and Selling at International Paper

In other 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 directly 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 legal filing with the SEC, which is available through this link. 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 transaction, the vice president directly owned 106,952 shares of the company’s stock, valued at $4,406,422.40. This represents a 18.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IP has been the subject of several research reports. Truist Financial reiterated a “buy” rating and issued a $49.00 price target (up from $46.00) on shares of International Paper in a research 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. Wells Fargo & Company lifted their price objective on shares of International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Citigroup upped their target price on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada increased their target price on shares of International Paper from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.