Los Angeles Capital Management LLC Invests $1.31 Million in International Paper (NYSE:IP)

Los Angeles Capital Management LLC acquired a new position in International Paper (NYSE:IP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,620 shares of the basic materials company’s stock, valued at approximately $1,312,000.

Several other hedge funds and other institutional investors have also modified their holdings of IP. Jones Financial Companies Lllp grew its stake in shares of International Paper by 208.3% in the fourth quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 475 shares during the last quarter. CVA Family Office LLC acquired a new stake in International Paper during the fourth quarter worth $27,000. Assetmark Inc. boosted its stake in International Paper by 309.0% during the fourth quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock worth $31,000 after buying an additional 649 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in International Paper during the fourth quarter worth $36,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in International Paper during the fourth quarter worth $37,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

International Paper Stock Performance

International Paper stock opened at $46.08 on Monday. The stock has a market capitalization of $16.00 billion, a price-to-earnings ratio of 94.04 and a beta of 1.06. International Paper has a 12-month low of $30.23 and a 12-month high of $46.77. The company has a quick ratio of 1.22, a current ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $40.79 and a 200 day simple moving average of $38.10.

International Paper (NYSE:IP) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.06). The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.56 billion. International Paper had a return on equity of 7.45% and a net margin of 0.93%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, research analysts anticipate that International Paper will post 1.84 earnings per share for the current fiscal year.

International Paper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.85 annualized dividend and a yield of 4.01%. International Paper’s dividend payout ratio is currently 377.55%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Citigroup upgraded shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $46.00 in a research note on Wednesday, March 20th. Argus downgraded shares of International Paper from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Jefferies Financial Group upgraded shares of International Paper from a “hold” rating to a “buy” rating and boosted their target price for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Finally, Bank of America upgraded shares of International Paper from an “underperform” rating to a “buy” rating and boosted their target price for the company from $37.00 to $42.00 in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.71.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $45.11, for a total value of $27,066.00. Following the completion of the sale, the director now directly owns 43,402 shares of the company’s stock, valued at approximately $1,957,864.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 3,600 shares of company stock valued at $144,744. 0.55% of the stock is currently owned by insiders.

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.