Redwood Investment Management LLC Takes Position in International Paper Company $IP

Redwood Investment Management LLC acquired a new stake in International Paper Company (NYSE:IP) in the 2nd quarter, Holdings Channel reports. The fund acquired 24,658 shares of the basic materials company’s stock, valued at approximately $939,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in International Paper by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 64,357,913 shares of the basic materials company’s stock worth $2,535,058,000 after acquiring an additional 310,834 shares during the last quarter. Capital International Investors grew its stake in International Paper by 29.4% during the 4th quarter. Capital International Investors now owns 63,413,335 shares of the basic materials company’s stock valued at $2,498,013,000 after purchasing an additional 14,422,616 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of International Paper by 0.4% in the fourth quarter. Capital Research Global Investors now owns 54,535,444 shares of the basic materials company’s stock valued at $2,148,154,000 after purchasing an additional 204,654 shares during the period. BlackRock Inc. acquired a new position in shares of International Paper in the second quarter valued at about $1,940,896,000. Finally, State Street Corp raised its stake in shares of International Paper by 1.3% in the fourth quarter. State Street Corp now owns 30,009,733 shares of the basic materials company’s stock worth $1,182,083,000 after purchasing an additional 397,673 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Transactions at International Paper

In related news, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the transaction, the vice president owned 106,952 shares of the company’s stock, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group lifted their target price on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Loop Capital set a $61.00 price objective on shares of International Paper in a research note on Tuesday, July 28th. Zacks Research raised shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Royal Bank Of Canada increased their price objective 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. Finally, Seaport Research Partners reissued a “buy” rating and set a $46.00 target price on shares of International Paper in a report on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.75.

International Paper Stock Down 3.7%

IP stock opened at $39.86 on Friday. The firm has a market cap of $21.11 billion, a PE ratio of -6.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.84 and a current ratio of 1.10. The firm’s fifty day moving average is $39.57 and its 200 day moving average is $37.80. International Paper Company has a one year low of $29.26 and a one year high of $50.25.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.19 billion. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, research analysts forecast that International Paper Company will post 1.34 EPS for the current year.

International Paper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, August 14th. International Paper’s payout ratio is currently -28.37%.

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.