V Square Quantitative Management LLC Sells 12,562 Shares of International Paper Company $IP

Key Points

• V Square Quantitative Management LLC reduced its stake in International Paper by 49.6%, selling 12,562 shares, leaving it with holdings valued at $597,000.
• Bank of America upgraded International Paper from a "neutral" to a "buy" rating, increasing the target price from $55.00 to $57.00.
• International Paper announced a quarterly dividend of $0.4625 per share, reflecting an annualized dividend yield of 4.0%.

V Square Quantitative Management LLC cut its holdings in International Paper Company (NYSE:IP - Free Report) by 49.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,741 shares of the basic materials company's stock after selling 12,562 shares during the period. V Square Quantitative Management LLC's holdings in International Paper were worth $597,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC grew its position in shares of International Paper by 281.3% in the first quarter. Rise Advisors LLC now owns 469 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 346 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of International Paper in the first quarter valued at $34,000. Citizens National Bank Trust Department purchased a new position in shares of International Paper in the first quarter valued at $37,000. Grove Bank & Trust grew its position in shares of International Paper by 472.0% in the first quarter. Grove Bank & Trust now owns 755 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 623 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. purchased a new stake in shares of International Paper in the second quarter worth $37,000. 81.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America upgraded International Paper from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Thursday, August 28th. Wells Fargo & Company restated an "underweight" rating and set a $43.00 target price (up from $40.00) on shares of International Paper in a research report on Thursday, July 10th. JPMorgan Chase & Co. cut International Paper from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $55.00 to $54.00 in a research report on Tuesday, August 5th. Zacks Research cut International Paper from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. Finally, Wall Street Zen upgraded International Paper from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $56.02.

Insiders Place Their Bets

In related news, SVP Joseph R. Saab sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.53, for a total transaction of $409,770.00. Following the transaction, the senior vice president directly owned 27,673 shares in the company, valued at $1,259,951.69. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by corporate insiders.

International Paper Trading Up 0.7%

NYSE IP opened at $46.40 on Wednesday. The stock's 50-day simple moving average is $48.18 and its two-hundred day simple moving average is $48.46. International Paper Company has a twelve month low of $43.27 and a twelve month high of $60.36. The company has a quick ratio of 0.96, a current ratio of 1.33 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of -464.00, a PEG ratio of 0.52 and a beta of 1.05.

International Paper (NYSE:IP - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.18). International Paper had a negative net margin of 0.12% and a positive return on equity of 2.63%. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.64 billion. During the same quarter in the previous year, the business earned $0.55 EPS. The company's revenue for the quarter was up 42.9% on a year-over-year basis. Research analysts forecast that International Paper Company will post 2.77 EPS for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Friday, August 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, August 15th. International Paper's payout ratio is -1,850.00%.

About International Paper

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.

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