United Capital Financial Advisors LLC Buys Shares of 22,124 International Paper Company $IP

United Capital Financial Advisors LLC bought a new stake in International Paper Company (NYSE:IP) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 22,124 shares of the basic materials company’s stock, valued at approximately $843,000.

Several other large investors have also modified their holdings of the stock. Hill City Capital LP acquired a new stake in shares of International Paper during the second quarter worth $194,310,000. Equitable Holdings Inc. acquired a new position in International Paper in the 2nd quarter valued at $404,000. Coastal Bridge Advisors LLC purchased a new position in International Paper during the 2nd quarter worth $304,000. Public Employees Retirement System of Ohio purchased a new position in International Paper during the 2nd quarter worth $5,699,000. Finally, Redwood Investment Management LLC acquired a new stake in shares of International Paper in the 2nd quarter worth $939,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

International Paper Stock Performance

NYSE:IP opened at $39.34 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 0.57. International Paper Company has a fifty-two week low of $29.26 and a fifty-two week high of $50.25. The stock has a market cap of $20.83 billion, a PE ratio of -6.03 and a beta of 0.94. The firm’s fifty day simple moving average is $39.62 and its 200-day simple moving average is $37.74.

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 analysts’ consensus estimates of ($0.04) by $0.08. International Paper had a negative net margin of 14.20% and a negative return on equity of 1.09%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the firm posted $0.20 EPS. The business’s revenue was down 11.3% compared to the same quarter last year. Analysts expect that International Paper Company will post 1.34 earnings per share for the current fiscal year.

International Paper Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.85 dividend on an annualized basis and a yield of 4.7%. International Paper’s dividend payout ratio (DPR) is -28.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of International Paper from a “hold” rating to a “sell” rating in a research note on Tuesday, August 25th. Weiss Ratings upgraded shares of International Paper from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Truist Financial reaffirmed a “buy” rating and issued a $49.00 price objective (up from $46.00) on shares of International Paper in a report on Friday, July 31st. Bank of America cut 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. Finally, JPMorgan Chase & Co. raised International Paper from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $51.00 to $61.00 in a research note on Tuesday, July 28th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

Insider Transactions at International Paper

In other news, VP William Thomas Hamic sold 24,500 shares of International Paper stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $41.20, for a total transaction of $1,009,400.00. Following the completion of the sale, the vice president directly owned 106,952 shares in the company, valued at approximately $4,406,422.40. This trade represents a 18.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Holly G. Goughnour sold 3,500 shares of the business’s 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 trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

International Paper Company Profile

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.