Commerce Bank Buys New Stake in International Paper Company $IP

Commerce Bank bought a new stake in International Paper Company (NYSE:IP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,155 shares of the basic materials company’s stock, valued at approximately $692,000.

Several other hedge funds have also made changes to their positions in the stock. McIlrath & Eck LLC lifted its position in shares of International Paper by 452.6% in the 4th quarter. McIlrath & Eck LLC now owns 641 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 525 shares during the period. MV Capital Management Inc. bought a new stake in shares of International Paper in the 4th quarter worth about $25,000. Ascentis Independent Advisors acquired a new position in International Paper in the first quarter valued at about $28,000. DV Equities LLC acquired a new position in shares of International Paper in the 4th quarter worth approximately $29,000. Finally, Summit Securities Group LLC boosted its stake in International Paper by 115.4% in the fourth quarter. Summit Securities Group LLC now owns 784 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 5,875 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.

Insider Buying and Selling at International Paper

In other International Paper news, VP William Thomas Hamic sold 24,500 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $41.20, for a total value of $1,009,400.00. Following the completion of the sale, the vice president owned 106,952 shares of the company’s stock, valued at $4,406,422.40. The trade was a 18.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $41.96, for a total value of $146,860.00. Following the sale, the chief accounting officer directly owned 34,248 shares in the company, valued at $1,437,046.08. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

IP has been the topic of a number of research reports. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research report on Tuesday, July 14th. Truist Financial restated a “buy” rating and set a $49.00 target price (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Citigroup boosted their price target on shares of International Paper from $43.00 to $48.00 and gave the company a “buy” rating in a report on Friday, July 31st. UBS Group increased their price objective on shares of International Paper from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. upgraded International Paper from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $51.00 to $61.00 in a research note on Tuesday, July 28th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.75.

International Paper Price Performance

NYSE:IP opened at $41.31 on Thursday. International Paper Company has a 12-month low of $29.26 and a 12-month high of $50.25. The stock’s 50 day moving average price is $39.51 and its two-hundred day moving average price is $37.85. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of -6.34 and a beta of 0.94.

International Paper (NYSE:IP) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. International Paper had a negative return on equity of 1.09% and a negative net margin of 14.20%.The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. On average, analysts anticipate that International Paper Company will post 1.34 earnings per share for the current year.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 annualized dividend and a dividend yield of 4.5%. International Paper’s dividend payout ratio is presently -28.37%.

About International Paper

International Paper is a global producer of renewable fiber-based products, focused primarily on pulp, paper, and packaging. The company manufactures containerboard and corrugated packaging used for shipping and retail display, as well as a range of specialty papers and pulp products that serve industrial, consumer goods, and e-commerce customers. Its product portfolio is oriented toward large-scale packaging solutions, tissue and paper grades, and raw pulp for a variety of manufacturing uses.

Founded in 1898, International Paper is headquartered in Memphis, Tennessee, and is one of the largest and longest-established companies in the forest products sector.