Holderness Investments Co. Has $927,000 Holdings in International Paper (NYSE:IP)

Holderness Investments Co. lifted its position in International Paper (NYSE:IP) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,481 shares of the basic materials company’s stock after purchasing an additional 717 shares during the quarter. Holderness Investments Co.’s holdings in International Paper were worth $927,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its holdings 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 acquiring an additional 475 shares during the period. Innealta Capital LLC bought a new position in International Paper during the second quarter worth about $26,000. MCF Advisors LLC boosted its holdings in International Paper by 1,094.7% during the first quarter. MCF Advisors LLC now owns 681 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of International Paper in the 1st quarter valued at approximately $29,000. Finally, Assetmark Inc. grew its stake in shares of International Paper by 309.0% in the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 649 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.

Analyst Ratings Changes

IP has been the topic of several recent analyst reports. Seaport Res Ptn raised International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Wells Fargo & Company upped their target price on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their target price on shares of International Paper from $52.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial boosted their price target 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. Finally, 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 note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.21.

International Paper Stock Down 2.5 %

Shares of NYSE:IP opened at $48.71 on Friday. 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 firm has a market cap 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 company’s 50-day moving average price is $47.00 and its two-hundred day moving average price is $42.73.

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, beating the consensus estimate of $0.41 by $0.14. International Paper had a net margin of 2.34% and a return on equity of 7.28%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. International Paper’s revenue was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that International Paper will post 1.55 EPS for the current fiscal year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, August 15th were given a dividend of $0.4625 per share. 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 payout ratio is currently 377.55%.

Insider Transactions at International Paper

In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $49.48, for a total value of $29,688.00. Following the transaction, the director now owns 39,802 shares in the company, valued at $1,969,402.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $49.48, for a total value of $29,688.00. Following the transaction, the director now directly owns 39,802 shares in the company, valued at $1,969,402.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Clay R. Ellis sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $48.83, for a total transaction of $439,470.00. Following the completion of the transaction, the senior vice president now directly owns 49,832 shares in the company, valued at $2,433,296.56. The disclosure for this sale can be found here. Insiders sold a total of 19,440 shares of company stock worth $927,956 over the last 90 days. 0.55% of the stock is owned by insiders.

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.