Green Square Capital LLC Has $6.35 Million Stake in International Paper Co (IP)
Green Square Capital LLC trimmed its position in International Paper Co (NYSE:IP) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,839 shares of the basic materials company’s stock after selling 14,414 shares during the quarter. Green Square Capital LLC’s holdings in International Paper were worth $6,345,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Qube Research & Technologies Ltd bought a new stake in shares of International Paper during the second quarter worth $106,000. Private Capital Group LLC grew its stake in shares of International Paper by 227.0% during the first quarter. Private Capital Group LLC now owns 2,093 shares of the basic materials company’s stock worth $112,000 after buying an additional 1,453 shares during the last quarter. Silvant Capital Management LLC bought a new stake in shares of International Paper during the first quarter worth $119,000. Signaturefd LLC bought a new stake in shares of International Paper during the first quarter worth $120,000. Finally, Squar Milner Financial Services LLC bought a new stake in shares of International Paper during the second quarter worth $125,000. 82.16% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on IP. Zacks Investment Research cut shares of International Paper from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Stephens reaffirmed a “hold” rating and set a $57.00 target price on shares of International Paper in a research note on Thursday, July 5th. ValuEngine cut shares of International Paper from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Deutsche Bank began coverage on shares of International Paper in a research note on Monday, June 18th. They set a “hold” rating and a $64.00 target price on the stock. Finally, MED reduced their price objective on shares of International Paper from $65.00 to $64.00 and set a “hold” rating on the stock in a research note on Monday, June 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $64.38.
International Paper (NYSE:IP) last issued its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.10. International Paper had a net margin of 12.95% and a return on equity of 29.24%. The company had revenue of $5.83 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. International Paper’s revenue for the quarter was up 8.4% on a year-over-year basis. sell-side analysts predict that International Paper Co will post 5.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Wednesday, August 15th were paid a $0.475 dividend. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.54%. International Paper’s dividend payout ratio is 54.44%.
In related news, SVP Sharon R. Ryan sold 15,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $52.87, for a total value of $793,050.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy S. Nicholls sold 17,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $52.53, for a total transaction of $893,010.00. Following the completion of the transaction, the insider now owns 108,538 shares in the company, valued at approximately $5,701,501.14. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.
International Paper Company Profile
International Paper Company operates as a paper and packaging company primarily in North America, Europe, Latin America, North Africa, India, and Russia. It operates through three segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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