Elo Mutual Pension Insurance Co Decreases Holdings in International Paper (NYSE:IP)

Elo Mutual Pension Insurance Co trimmed its position in International Paper (NYSE:IP) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,712 shares of the basic materials company’s stock after selling 1,323 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in International Paper were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in IP. Jones Financial Companies Lllp increased 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 buying an additional 475 shares during the period. Innealta Capital LLC purchased a new position in shares of International Paper in the second quarter worth $26,000. MCF Advisors LLC increased its stake 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 worth $27,000 after buying an additional 624 shares during the period. Crewe Advisors LLC purchased a new position in shares of International Paper in the first quarter worth $29,000. Finally, Assetmark Inc. increased its stake in shares of International Paper by 309.0% in 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 during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.

International Paper Stock Performance

Shares of IP stock opened at $48.71 on Friday. International Paper has a 12 month low of $31.76 and a 12 month high of $50.68. The stock has a market cap of $16.92 billion, a PE ratio of 99.41 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $47.00 and its 200-day moving average price is $42.69.

International Paper (NYSE:IP) last announced its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 EPS for the quarter, beating 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 analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts expect that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on IP. Wells Fargo & Company lifted their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Seaport Res Ptn raised shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Truist Financial boosted their price objective on shares of International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus started 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 on the stock. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, International Paper currently has an average rating of “Moderate Buy” and an average price target of $50.21.

Insider Activity

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $42.77, for a total transaction of $25,662.00. Following the sale, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Joseph R. Saab sold 2,440 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $47.30, for a total value of $115,412.00. Following the transaction, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathryn D. Sullivan sold 600 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 42,802 shares in the company, valued at approximately $1,830,641.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,440 shares of company stock worth $927,956. Corporate insiders own 0.55% of the company’s stock.

International Paper 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.