International Paper (NYSE:IP) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC lowered its stake in shares of International Paper (NYSE:IP) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,531 shares of the basic materials company’s stock after selling 2,785 shares during the period. Lmcg Investments LLC’s holdings in International Paper were worth $929,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama lifted its stake in shares of International Paper by 0.3% during the 2nd 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 during the period. Massmutual Trust Co. FSB ADV boosted its stake in International Paper by 27.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,157 shares of the basic materials company’s stock worth $50,000 after buying an additional 251 shares during the last quarter. Czech National Bank grew its holdings in International Paper by 0.5% in the 1st quarter. Czech National Bank now owns 60,897 shares of the basic materials company’s stock valued at $2,376,000 after buying an additional 295 shares during the period. Kentucky Retirement Systems increased its stake in shares of International Paper by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 27,685 shares of the basic materials company’s stock valued at $1,001,000 after acquiring an additional 298 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of International Paper by 4.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 7,845 shares of the basic materials company’s stock worth $306,000 after acquiring an additional 318 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

Shares of NYSE:IP opened at $49.52 on Wednesday. The business’s 50-day simple moving average is $46.62 and its 200 day simple moving average is $42.50. The company has a market cap of $17.20 billion, a P/E ratio of 101.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.59. International Paper has a one year low of $31.76 and a one year high of $50.55.

International Paper (NYSE:IP) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the company earned $0.59 earnings per share. International Paper’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio (DPR) is 377.55%.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the sale, the director now directly owns 42,202 shares in the company, valued at $1,843,383.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.68, for a total transaction of $26,208.00. Following the completion of the transaction, the director now directly owns 42,202 shares in the company, valued at approximately $1,843,383.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 49,832 shares of the company’s stock, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Insiders have sold 19,440 shares of company stock worth $927,956 in the last quarter. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IP shares. Truist Financial upped their price target on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.00 to $57.00 in a research report on Thursday, May 23rd. Royal Bank of Canada boosted their price target on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Wednesday, August 14th. Finally, Stifel Nicolaus assumed coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price for the company. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.