GAMMA Investing LLC Has $52,000 Stock Position in International Paper (NYSE:IP)

GAMMA Investing LLC cut its holdings in International Paper (NYSE:IP) by 21.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,335 shares of the basic materials company’s stock after selling 364 shares during the quarter. GAMMA Investing LLC’s holdings in International Paper were worth $52,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of International Paper during the 4th quarter valued at $37,000. StrategIQ Financial Group LLC acquired a new position in shares of International Paper during the fourth quarter valued at about $2,271,000. Franklin Resources Inc. boosted its position in shares of International Paper by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 13,030,839 shares of the basic materials company’s stock worth $471,065,000 after purchasing an additional 4,960,005 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of International Paper in the 1st quarter valued at about $1,312,000. Finally, Cibc World Markets Corp increased its position in International Paper by 1,437.6% in the 4th quarter. Cibc World Markets Corp now owns 293,639 shares of the basic materials company’s stock valued at $10,615,000 after buying an additional 274,542 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

International Paper Trading Up 2.7 %

NYSE:IP opened at $47.32 on Tuesday. International Paper has a 52 week low of $30.71 and a 52 week high of $47.40. The firm has a 50-day moving average price of $41.00 and a two-hundred day moving average price of $38.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.68. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 96.57 and a beta of 1.06.

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

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Thursday, May 23rd. International Paper’s dividend payout ratio (DPR) is currently 377.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IP shares. Jefferies Financial Group raised International Paper from a “hold” rating to a “buy” rating and raised their price objective for the company from $38.00 to $57.00 in a research note on Thursday, May 23rd. Wells Fargo & Company raised their price objective on shares of International Paper from $37.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $46.00 in a research report on Wednesday, March 20th. Bank of America raised shares of International Paper from an “underperform” rating to a “buy” rating and raised their price target for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Finally, Truist Financial boosted their price objective on International Paper from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.71.

Insider Activity at International Paper

In other news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the sale, the director now owns 43,402 shares in the company, valued at approximately $1,957,864.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 3,600 shares of company stock worth $144,744. 0.55% of the stock is owned by company 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.