EFG International AG Acquires Shares of 107,626 International Paper Company $IP

EFG International AG acquired a new position in shares of International Paper Company (NYSE:IP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 107,626 shares of the basic materials company’s stock, valued at approximately $4,101,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. McIlrath & Eck LLC increased its stake in International Paper by 452.6% during the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after buying an additional 525 shares during the period. MV Capital Management Inc. bought a new stake in shares of International Paper in the fourth quarter worth $25,000. Aberdeen Wealth Management LLC acquired a new stake in International Paper in the second quarter valued at $27,000. DV Equities LLC bought a new position in International Paper in the fourth quarter valued at $29,000. Finally, Ascentis Independent Advisors bought a new stake in International Paper during the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling

In other news, CAO Holly G. Goughnour sold 3,500 shares of International Paper stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $41.96, for a total transaction of $146,860.00. Following the transaction, the chief accounting officer owned 34,248 shares in the company, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This represents a 18.64% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

International Paper Trading Up 0.2%

Shares of International Paper stock opened at $41.13 on Wednesday. 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 stock has a market cap of $21.78 billion, a PE ratio of -6.31 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. The firm has a 50-day moving average of $39.40 and a 200-day moving average of $37.87.

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

International Paper Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.5%. International Paper’s dividend payout ratio is currently -28.37%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IP. JPMorgan Chase & Co. raised International Paper from a “neutral” rating to an “overweight” rating and increased their price target for the company from $51.00 to $61.00 in a research report on Tuesday, July 28th. Zacks Research upgraded shares of International Paper from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Citigroup raised their target price on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, July 31st. UBS Group lifted their price target on International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Seaport Research Partners restated a “buy” rating and issued a $46.00 price objective on shares of International Paper in a research note on Wednesday, August 12th. Nine research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.75.

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.