TrinityBridge Ltd Takes $1.14 Million Position in International Paper Company $IP

TrinityBridge Ltd acquired a new position in International Paper Company (NYSE:IP) during the second quarter, HoldingsChannel.com reports. The fund acquired 29,957 shares of the basic materials company’s stock, valued at approximately $1,141,000.

Several other large investors have also recently modified their holdings of IP. MCF Advisors LLC lifted its position in International Paper by 36.7% during the fourth quarter. MCF Advisors LLC now owns 853 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 229 shares during the last quarter. Rothschild Investment LLC increased its position in shares of International Paper by 4.2% during the fourth quarter. Rothschild Investment LLC now owns 5,993 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 242 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of International Paper by 3.3% during the 4th quarter. Independent Advisor Alliance now owns 7,750 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 244 shares during the last quarter. Horizon Investments LLC lifted its holdings in shares of International Paper by 3.3% during the 4th quarter. Horizon Investments LLC now owns 8,456 shares of the basic materials company’s stock valued at $333,000 after purchasing an additional 267 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in shares of International Paper by 1.3% in the 1st quarter. Stephens Inc. AR now owns 23,032 shares of the basic materials company’s stock worth $853,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

International Paper Stock Down 1.6%

IP stock opened at $40.42 on Friday. International Paper Company has a 52 week low of $29.26 and a 52 week high of $50.25. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $39.10 and a 200-day simple moving average of $37.90. The stock has a market capitalization of $21.41 billion, a P/E ratio of -6.20 and a beta of 0.94.

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, beating analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the company posted $0.20 EPS. International Paper’s quarterly revenue was down 11.3% compared to the same quarter last year. Equities analysts forecast that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given 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 dividend payout ratio (DPR) is -28.37%.

Analyst Ratings Changes

IP has been the topic of several recent analyst reports. Loop Capital set a $61.00 target price on International Paper in a research report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d)” rating on shares of International Paper in a report on Friday, July 24th. Seaport Research Partners restated a “buy” rating and set a $46.00 price target on shares of International Paper in a research note on Wednesday, August 12th. Citigroup increased their price objective on International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, UBS Group raised their target price on shares of International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.75.

Insider Buying and Selling

In other news, CAO Holly G. Goughnour sold 3,500 shares of International Paper 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 sale, the chief accounting officer directly owned 34,248 shares of the company’s stock, valued at $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. The trade was a 18.64% 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.

About International Paper

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.