18,379 Shares in International Paper Company $IP Acquired by Lmcg Investments LLC

Lmcg Investments LLC purchased a new position in International Paper Company (NYSE:IP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,379 shares of the basic materials company’s stock, valued at approximately $610,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in International Paper in the second quarter valued at $1,940,896,000. State Street Corp raised its holdings in International Paper by 7.1% in the 2nd quarter. State Street Corp now owns 32,999,909 shares of the basic materials company’s stock worth $1,257,297,000 after purchasing an additional 2,189,597 shares in the last quarter. Bank of New York Mellon Corp bought a new position in International Paper in the 2nd quarter worth $689,498,000. Atlas FRM LLC bought a new position in International Paper in the 2nd quarter worth $374,904,000. Finally, Hill City Capital LP purchased a new stake in shares of International Paper in the 2nd quarter worth about $194,310,000. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, VP William Hamic sold 24,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,406,422.40. This represents a 18.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total transaction of $146,860.00. Following the completion of the transaction, the chief accounting officer owned 34,248 shares of the company’s stock, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IP shares. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Wells Fargo & Company reduced their price target on shares of International Paper from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Royal Bank Of Canada increased their price target 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. Loop Capital set a $61.00 price target on shares of International Paper in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.90.

International Paper Trading Up 0.1%

NYSE IP opened at $33.66 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a twelve month low of $29.26 and a twelve month high of $50.25. The firm has a market capitalization of $17.82 billion, a PE ratio of -5.16, a P/E/G ratio of 4.44 and a beta of 0.93. The stock’s 50 day moving average is $35.62 and its 200 day moving average is $35.97.

International Paper (NYSE:IP) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share. Research analysts forecast that International Paper Company will post 1.26 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.85 annualized dividend and a yield of 5.5%. International Paper’s dividend payout ratio (DPR) is currently -28.37%.

About International Paper

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and paper products. Its offerings include corrugated packaging and containerboard used to protect and transport goods, as well as absorbent cellulose fibers and other fiber-based materials used in personal care, healthcare, foodservice and industrial applications.

The company serves customers across North America and Europe, with products sold to manufacturers, retailers, consumer-goods companies and other commercial customers.