TrinityBridge Ltd Acquires Shares of 29,957 International Paper Company $IP

TrinityBridge Ltd bought a new position in International Paper Company (NYSE:IP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 29,957 shares of the basic materials company’s stock, valued at approximately $1,141,000.

Several other hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its stake in International Paper by 452.6% in the fourth quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 525 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of International Paper during the fourth quarter valued at approximately $25,000. Ascentis Independent Advisors bought a new position in shares of International Paper during the first quarter valued at approximately $28,000. DV Equities LLC purchased a new stake in shares of International Paper in the fourth quarter worth approximately $29,000. Finally, Summit Securities Group LLC raised its holdings in shares of International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock worth $31,000 after buying an additional 5,875 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Stock Down 1.6%

Shares of NYSE:IP opened at $40.42 on Friday. 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 business’s 50 day moving average is $39.10 and its 200 day moving average is $37.90. The stock has a market cap of $21.41 billion, a P/E ratio of -6.20 and a beta of 0.94. International Paper Company has a 52-week low of $29.26 and a 52-week high of $50.25.

International Paper (NYSE:IP) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The business’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. Sell-side analysts predict that International Paper Company will post 1.34 EPS for the current year.

International Paper Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IP. Wells Fargo & Company boosted their price objective on International Paper from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Citigroup increased their target price on International Paper from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Truist Financial reiterated a “buy” rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a research report on Friday, July 31st. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, UBS Group raised their price target on shares of International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

Insider Activity at International Paper

In related news, CAO Holly G. Goughnour sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the transaction, the chief accounting officer 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 filing with the SEC, which is available at the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the company’s stock in a transaction 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 approximately $4,406,422.40. This represents a 18.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

International Paper 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.