King Luther Capital Management Corp Decreases Stock Holdings in International Paper (NYSE:IP)

King Luther Capital Management Corp cut its stake in International Paper (NYSE:IP) by 6.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,965 shares of the basic materials company’s stock after selling 584 shares during the period. King Luther Capital Management Corp’s holdings in International Paper were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. TrinityPoint Wealth LLC raised its holdings in International Paper by 6.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 9,605 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 608 shares during the last quarter. Norges Bank acquired a new position in shares of International Paper during the 4th quarter worth $94,913,000. Coldstream Capital Management Inc. purchased a new stake in shares of International Paper in the 4th quarter worth about $230,000. Corient Private Wealth LLC grew its stake in International Paper by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 68,289 shares of the basic materials company’s stock valued at $2,469,000 after acquiring an additional 496 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in International Paper by 309.0% during the 4th quarter. Assetmark Inc. now owns 859 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 649 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

International Paper Stock Performance

International Paper stock opened at $48.71 on Monday. The stock has a fifty day moving average price of $47.00 and a 200 day moving average price of $42.78. International Paper has a 52 week low of $31.76 and a 52 week high of $50.68. The firm has a market capitalization of $16.92 billion, a P/E 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.

International Paper (NYSE:IP) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share for the quarter, topping 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 analyst estimates of $4.78 billion. During the same period in the prior year, the firm posted $0.59 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that International Paper will post 1.55 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, August 15th were issued a $0.4625 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 377.55%.

Insider Activity

In related news, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the transaction, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kathryn D. Sullivan sold 600 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.68, for a total value of $26,208.00. Following the transaction, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Clay R. Ellis sold 9,000 shares of International Paper 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 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 19,440 shares of company stock valued at $927,956 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Stifel Nicolaus initiated coverage on International Paper in a report on Tuesday, July 9th. They set a “hold” rating and a $48.70 target price on the stock. Truist Financial boosted their price target on International Paper from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Royal Bank of Canada increased their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.21.

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.