88,285 Shares in International Paper (NYSE:IP) Purchased by Caprock Group LLC

Caprock Group LLC acquired a new stake in International Paper (NYSE:IP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 88,285 shares of the basic materials company’s stock, valued at approximately $3,810,000.

A number of other hedge funds also recently made changes to their positions in the business. Retirement Systems of Alabama boosted its stake in International Paper by 0.3% in the second quarter. Retirement Systems of Alabama now owns 76,616 shares of the basic materials company’s stock valued at $3,306,000 after buying an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of International Paper by 27.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 251 shares during the last quarter. Czech National Bank increased its position in International Paper by 0.5% during the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 295 shares in the last quarter. Kentucky Retirement Systems lifted its stake in International Paper by 1.1% in the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after purchasing an additional 298 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in International Paper by 4.2% in the first quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock valued at $306,000 after buying an additional 318 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Stock Performance

NYSE:IP opened at $47.11 on Friday. 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 fifty-two week low of $31.76 and a fifty-two week high of $49.24. The company has a 50 day simple moving average of $45.92 and a two-hundred day simple moving average of $41.77. The company has a market capitalization of $16.36 billion, a PE ratio of 96.14 and a beta of 1.04.

International Paper (NYSE:IP) last announced its 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. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a net margin of 2.34% and a return on equity of 7.28%. International Paper’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. Research analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares in the company, valued at $1,957,864.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the transaction, the senior vice president now owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares of the company’s stock, valued at $1,957,864.22. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock worth $809,922 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IP shares. Wells Fargo & Company raised their price objective on International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Truist Financial raised their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada upped their price target on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

About International Paper

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.