Alpha Paradigm Partners LLC reduced its position in International Paper (NYSE:IP) by 43.5% during the second quarter, Holdings Channel.com reports. The firm owned 4,948 shares of the basic materials company’s stock after selling 3,814 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in International Paper were worth $303,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of IP. Strategic Blueprint LLC bought a new position in shares of International Paper in the 2nd quarter worth $29,000. Providence Capital Advisors LLC bought a new position in International Paper during the 2nd quarter valued at $31,000. Stonebridge Capital Advisors LLC bought a new position in International Paper during the 1st quarter valued at $35,000. Logan Capital Management Inc. bought a new position in International Paper during the 1st quarter valued at $39,000. Finally, San Francisco Sentry Investment Group CA bought a new position in International Paper during the 2nd quarter valued at $40,000. Institutional investors own 81.58% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Truist assumed coverage on International Paper in a research report on Wednesday. They set a “hold” rating and a $50.00 target price for the company. Wells Fargo & Company decreased their target price on International Paper from $85.00 to $78.00 and set an “overweight” rating for the company in a research report on Friday, October 8th. UBS Group raised their target price on International Paper from $47.00 to $52.00 and gave the company a “sell” rating in a research report on Tuesday, September 28th. Stephens raised International Paper from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $58.00 to $80.00 in a research report on Monday, June 28th. Finally, Zacks Investment Research lowered International Paper from a “strong-buy” rating to a “hold” rating and set a $63.00 target price for the company. in a research report on Monday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.42.
International Paper (NYSE:IP) last posted its earnings results on Thursday, July 29th. The basic materials company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.01. The business had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.60 billion. International Paper had a return on equity of 16.67% and a net margin of 5.33%. On average, equities research analysts anticipate that International Paper will post 4.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Monday, November 15th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 7.24%. This is a positive change from International Paper’s previous quarterly dividend of $0.51. International Paper’s payout ratio is presently 73.21%.
In other International Paper news, SVP Jeanmichel Ribieras sold 4,417 shares of International Paper stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $57.75, for a total transaction of $255,081.75. Following the completion of the transaction, the senior vice president now owns 61,333 shares of the company’s stock, valued at approximately $3,541,980.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.
International Paper Profile
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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