Frank Rimerman Advisors LLC Has $1.39 Million Holdings in International Paper (NYSE:IP)

Frank Rimerman Advisors LLC boosted its position in shares of International Paper (NYSE:IP) by 140,191.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,267 shares of the basic materials company’s stock after acquiring an additional 32,244 shares during the period. Frank Rimerman Advisors LLC’s holdings in International Paper were worth $1,392,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in shares of International Paper by 208.3% during the 4th quarter. Jones Financial Companies Lllp now owns 703 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 475 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of International Paper during the second quarter worth approximately $26,000. MCF Advisors LLC boosted its position in shares of International Paper by 1,094.7% in the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 624 shares during the period. Crewe Advisors LLC acquired a new stake in shares of International Paper in the first quarter worth $29,000. Finally, Assetmark Inc. increased its position 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 acquiring an additional 649 shares during the period. 81.95% of the stock is currently owned by institutional investors.

International Paper Trading Down 2.5 %

Shares of IP stock opened at $48.71 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $16.92 billion, a P/E ratio of 99.41 and a beta of 1.04. International Paper has a 12-month low of $31.76 and a 12-month high of $50.68. The firm has a 50-day moving average price of $47.00 and a 200 day moving average price of $42.78.

International Paper (NYSE:IP) last released its quarterly earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company earned $0.59 EPS. International Paper’s revenue for the quarter was up 1.1% on a year-over-year basis. Research analysts forecast that International Paper will post 1.55 earnings per share for the current fiscal year.

International Paper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were issued a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s dividend payout ratio is 377.55%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IP shares. Wells Fargo & Company increased their price target on shares of International Paper from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Stifel Nicolaus assumed coverage on International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Royal Bank of Canada raised their price objective on International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Finally, Truist Financial lifted their price target on shares of International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, International Paper has an average rating of “Moderate Buy” and an average price target of $50.21.

Insider Buying and Selling

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $42.77, for a total value of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $42.77, for a total transaction of $25,662.00. Following the completion of the sale, the director now owns 42,802 shares in the company, valued at $1,830,641.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Clay R. Ellis sold 9,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total value of $439,470.00. Following the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at approximately $2,433,296.56. The disclosure for this sale can be found here. Insiders have sold a total of 19,440 shares of company stock worth $927,956 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

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.