Ieq Capital LLC Takes Position in International Paper Company $IP

Ieq Capital LLC purchased a new position in shares of International Paper Company (NYSE:IP) in the 2nd quarter, Holdings Channel reports. The fund purchased 61,371 shares of the basic materials company’s stock, valued at approximately $2,338,000.

A number of other large investors have also modified their holdings of IP. Dynamic Technology Lab Private Ltd acquired a new position in International Paper during the 1st quarter valued at about $249,000. Intech Investment Management LLC increased its stake in shares of International Paper by 100.5% in 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 purchasing an additional 16,055 shares during the period. Cresset Asset Management LLC raised its holdings in shares of International Paper by 20.8% during the second quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company’s stock valued at $812,000 after buying an additional 2,981 shares during the last quarter. Jump Financial LLC raised its holdings in shares of International Paper by 280.9% during the second quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company’s stock valued at $1,784,000 after buying an additional 28,092 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of International Paper by 8.0% during the second quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company’s stock worth $1,580,000 after buying an additional 2,493 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insiders Place Their Bets

In other International Paper news, VP William Thomas Hamic sold 24,500 shares of the firm’s 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 in the company, valued at $4,406,422.40. This trade represents a 18.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was 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 of the company’s stock, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

International Paper Trading Up 0.2%

NYSE:IP opened at $41.13 on Wednesday. The stock has a market cap of $21.78 billion, a PE ratio of -6.31 and a beta of 0.94. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. 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 stock’s 50-day moving average is $39.40 and its two-hundred day moving average is $37.87.

International Paper (NYSE:IP) last issued its earnings results 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 firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. As a group, equities research 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. Stockholders of record on Friday, August 14th will be issued 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 dividend yield of 4.5%. International Paper’s dividend payout ratio (DPR) is currently -28.37%.

Analyst Upgrades and Downgrades

IP has been the topic of several analyst reports. UBS Group raised their target price on International Paper from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised International Paper from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $51.00 to $61.00 in a research note on Tuesday, July 28th. Loop Capital set a $61.00 price target on International Paper in a report on Tuesday, July 28th. Bank of America cut 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 note on Tuesday, July 14th. Finally, Weiss Ratings upgraded shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, International Paper currently has an average rating of “Moderate Buy” and an average target price of $48.75.

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.