61,371 Shares in International Paper Company $IP Acquired by Ieq Capital LLC

Key Points

• Ieq Capital acquired 61,371 shares of International Paper during the second quarter, valued at approximately $2.34 million. Institutional investors collectively own 81.95% of the company.
• International Paper reported quarterly EPS of $0.04, exceeding estimates for a $0.04 loss, but revenue fell 11.3% year over year to $6 billion. Analysts have a consensus “Moderate Buy” rating and an average price target of $48.75.
• The company declared a quarterly dividend of $0.4625 per share, equivalent to an annualized $1.85 payout and a 4.5% yield, payable September 15 to shareholders of record August 14.

Ieq Capital LLC purchased a new position in shares of International Paper Company (NYSE:IP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 61,371 shares of the basic materials company's stock, valued at approximately $2,338,000.

Other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in International Paper in the first quarter valued at $249,000. Intech Investment Management LLC raised its holdings in shares of International Paper by 100.5% in the 1st quarter. Intech Investment Management LLC now owns 32,025 shares of the basic materials company's stock worth $1,709,000 after purchasing an additional 16,055 shares during the period. Cresset Asset Management LLC raised its holdings in shares of International Paper by 20.8% in the 2nd quarter. Cresset Asset Management LLC now owns 17,345 shares of the basic materials company's stock worth $812,000 after purchasing an additional 2,981 shares during the period. Jump Financial LLC lifted its stake in shares of International Paper by 280.9% in the 2nd quarter. Jump Financial LLC now owns 38,092 shares of the basic materials company's stock valued at $1,784,000 after purchasing an additional 28,092 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of International Paper by 8.0% in the 2nd quarter. Cerity Partners LLC now owns 33,749 shares of the basic materials company's stock valued at $1,580,000 after purchasing an additional 2,493 shares in the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Trading Up 0.2%

NYSE IP opened at $41.13 on Wednesday. The company has a market capitalization of $21.78 billion, a price-to-earnings ratio of -6.31 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.10 and a quick ratio of 0.84. International Paper Company has a 12 month low of $29.26 and a 12 month high of $50.25. The company's fifty day moving average price is $39.40 and its two-hundred day moving average price is $37.87.

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

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. International Paper's dividend payout ratio (DPR) is currently -28.37%.

Wall Street Analyst Weigh In

IP has been the topic of several research reports. Seaport Research Partners restated a "buy" rating and issued a $46.00 price target on shares of International Paper in a report on Wednesday, August 12th. Bank of America lowered shares of International Paper from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their target price on shares of International Paper from $48.00 to $52.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Wall Street Zen cut shares of International Paper from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upgraded 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 report on Tuesday, July 28th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, International Paper has an average rating of "Moderate Buy" and a consensus target price of $48.75.

Insider Activity at International Paper

In other news, CAO Holly G. Goughnour sold 3,500 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the completion of the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at approximately $1,437,046.08. The trade was a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William Thomas Hamic sold 24,500 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

International Paper Company 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.

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