MBB Public Markets I LLC Makes New $1.01 Million Investment in International Paper (NYSE:IP)

MBB Public Markets I LLC bought a new position in International Paper (NYSE:IP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 23,452 shares of the basic materials company’s stock, valued at approximately $1,012,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its position in shares of 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 worth $3,306,000 after purchasing an additional 246 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of International Paper by 27.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 251 shares in the last quarter. Czech National Bank lifted its position in shares of International Paper by 0.5% in the first 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. Altrius Capital Management Inc lifted its position in shares of International Paper by 0.3% in the second quarter. Altrius Capital Management Inc now owns 112,487 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 296 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in shares of 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 worth $306,000 after purchasing an additional 318 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total value of $27,756.00. Following the sale, the director now owns 41,602 shares in the company, valued at $1,924,508.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $46.26, for a total transaction of $27,756.00. Following the sale, the director now owns 41,602 shares in the company, valued at $1,924,508.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction of $439,470.00. Following the sale, the senior vice president now owns 49,832 shares in the company, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,840 shares of company stock worth $902,294. Insiders own 0.55% of the company’s stock.

International Paper Trading Down 0.4 %

NYSE:IP opened at $48.85 on Tuesday. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 99.69 and a beta of 1.04. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $47.38 and its 200-day moving average is $43.31.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating 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 company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts anticipate that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 annualized dividend and a dividend yield of 3.79%. International Paper’s payout ratio is 377.55%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IP. Stifel Nicolaus began coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Royal Bank of Canada raised their price objective 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. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. 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 research report on Tuesday, July 16th. Finally, Wells Fargo & Company raised their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.21.

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.