Appian Way Asset Management LP Has $4.82 Million Stock Holdings in International Paper (NYSE:IP)

Appian Way Asset Management LP grew its stake in shares of International Paper (NYSE:IP) by 123.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,623 shares of the basic materials company’s stock after purchasing an additional 61,604 shares during the quarter. International Paper comprises about 1.2% of Appian Way Asset Management LP’s portfolio, making the stock its 20th biggest holding. Appian Way Asset Management LP’s holdings in International Paper were worth $4,817,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in shares of International Paper by 133.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,214,754 shares of the basic materials company’s stock worth $613,367,000 after buying an additional 8,132,332 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of International Paper by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,135,702 shares of the basic materials company’s stock worth $824,716,000 after buying an additional 5,492,035 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of International Paper in the second quarter valued at about $119,012,000. Samlyn Capital LLC acquired a new position in shares of International Paper in the second quarter valued at about $88,966,000. Finally, Diamond Hill Capital Management Inc. acquired a new stake in International Paper in the 2nd quarter worth about $81,187,000. Institutional investors and hedge funds own 81.95% of the company’s stock.

Insider Activity at International Paper

In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction that occurred on Friday, June 28th. The stock was 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 directly owns 42,802 shares in the company, valued at $1,830,641.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other International Paper news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on 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 directly owns 42,802 shares of the company’s stock, valued at $1,830,641.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Clay R. Ellis sold 9,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $48.83, for a total transaction 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 Stock Down 0.6 %

Shares of IP opened at $48.42 on Tuesday. The company has a market capitalization of $16.82 billion, a PE ratio of 98.82 and a beta of 1.04. The stock’s 50-day moving average price is $47.09 and its two-hundred day moving average price is $42.87. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68.

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

International Paper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, August 15th. International Paper’s dividend payout ratio is 377.55%.

Analysts Set New Price Targets

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

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.