Gladius Capital Management LP Sells 1,030 Shares of International Paper (NYSE:IP)

Gladius Capital Management LP cut its holdings in International Paper (NYSE:IP) by 38.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,679 shares of the basic materials company’s stock after selling 1,030 shares during the quarter. Gladius Capital Management LP’s holdings in International Paper were worth $72,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. MCF Advisors LLC lifted its holdings in International Paper by 1,094.7% in the 1st quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 475 shares during the period. Crewe Advisors LLC acquired a new stake in shares of International Paper in the first quarter worth $29,000. Assetmark Inc. boosted its holdings in shares of International Paper by 309.0% during the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in International Paper in the 2nd quarter valued at $37,000. 81.95% of the stock is owned by institutional investors.

International Paper Stock Performance

Shares of NYSE:IP traded up $0.20 during trading on Friday, hitting $47.08. 4,172,532 shares of the stock were exchanged, compared to its average volume of 5,704,740. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 96.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a 1-year low of $31.76 and a 1-year high of $47.40. The company’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $40.37.

International Paper (NYSE:IP) last posted its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts expect that International Paper will post 1.64 EPS for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IP shares. Truist Financial boosted their target price on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada boosted their price objective on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and raised their target price for the company from $38.00 to $57.00 in a report on Thursday, May 23rd. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.21.

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $44.58, for a total value of $26,748.00. Following the sale, the director now owns 45,479 shares of the company’s stock, valued at approximately $2,027,453.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 3,600 shares of company stock worth $161,100 over the last quarter. Company insiders own 0.55% of the company’s stock.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.